Nisa Investment Advisors LLC Sells 70,802 Shares of Wells Fargo & Company (NYSE:WFC)

Nisa Investment Advisors LLC cut its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 861,611 shares of the financial services provider's stock after selling 70,802 shares during the period. Nisa Investment Advisors LLC's holdings in Wells Fargo & Company were worth $48,672,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WFC. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the second quarter worth about $26,000. Valued Wealth Advisors LLC grew its position in Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider's stock valued at $37,000 after buying an additional 220 shares in the last quarter. J.Safra Asset Management Corp grew its position in Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider's stock valued at $43,000 after buying an additional 648 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new position in Wells Fargo & Company during the 2nd quarter valued at about $47,000. 75.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WFC shares. Wolfe Research upgraded shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price objective for the company in a report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered their price target on Wells Fargo & Company from $62.00 to $61.00 and set a "market perform" rating on the stock in a research report on Monday, July 15th. BMO Capital Markets upped their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a "market perform" rating in a report on Thursday, July 11th. The Goldman Sachs Group lowered their target price on Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price target for the company in a report on Tuesday, September 3rd. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $61.82.

Wells Fargo & Company Stock Down 0.5 %

WFC stock traded down $0.31 during midday trading on Tuesday, reaching $65.30. The company had a trading volume of 13,109,187 shares, compared to its average volume of 18,051,494. The company has a market capitalization of $222.27 billion, a P/E ratio of 13.63, a PEG ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $38.69 and a 1 year high of $66.00. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average of $57.78 and a two-hundred day moving average of $58.33.

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

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.45%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 33.26%.

Wells Fargo & Company Profile

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.