Semanteon Capital Management LP Invests $1.18 Million in Wells Fargo & Company (NYSE:WFC)

Semanteon Capital Management LP acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,929 shares of the financial services provider's stock, valued at approximately $1,182,000. Wells Fargo & Company makes up about 0.8% of Semanteon Capital Management LP's investment portfolio, making the stock its 25th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $26,000. Valued Wealth Advisors LLC raised its position in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 220 shares in the last quarter. J.Safra Asset Management Corp lifted its stake in Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider's stock worth $43,000 after purchasing an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC acquired a new position in Wells Fargo & Company in the second quarter worth $47,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares of the company's stock, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Beurden Saul Van sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares of the company's stock, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the business's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wells Fargo & Company Price Performance

Shares of WFC traded up $1.08 during midday trading on Monday, reaching $65.61. The stock had a trading volume of 15,025,556 shares, compared to its average volume of 18,074,836. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $223.32 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.46 and a beta of 1.16. The firm's 50 day moving average price is $57.78 and its 200-day moving average price is $58.33. Wells Fargo & Company has a 52 week low of $38.69 and a 52 week high of $65.95.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. Wells Fargo & Company's revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.39 EPS. On average, analysts forecast that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.44%. Wells Fargo & Company's dividend payout ratio (DPR) is 33.26%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WFC. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Jefferies Financial Group cut shares of Wells Fargo & Company to a "hold" rating and cut their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Evercore ISI upped their target price on Wells Fargo & Company from $68.00 to $71.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Phillip Securities raised Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and raised their price target for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Wolfe Research upgraded Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price objective for the company in a research note on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $61.82.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.