AustralianSuper Pty Ltd lifted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 43.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,419,753 shares of the financial services provider's stock after buying an additional 431,498 shares during the quarter. AustralianSuper Pty Ltd's holdings in Wells Fargo & Company were worth $80,202,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the stock. HM Payson & Co. grew its position in shares of Wells Fargo & Company by 8.5% during the 3rd quarter. HM Payson & Co. now owns 44,255 shares of the financial services provider's stock worth $2,500,000 after buying an additional 3,451 shares during the period. Voisard Asset Management Group Inc. grew its position in shares of Wells Fargo & Company by 16.9% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,571 shares of the financial services provider's stock worth $89,000 after buying an additional 227 shares during the period. SteelPeak Wealth LLC grew its position in shares of Wells Fargo & Company by 4.4% during the 3rd quarter. SteelPeak Wealth LLC now owns 7,323 shares of the financial services provider's stock worth $414,000 after buying an additional 311 shares during the period. Pinnacle Associates Ltd. grew its position in shares of Wells Fargo & Company by 3.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 202,013 shares of the financial services provider's stock worth $11,412,000 after buying an additional 7,105 shares during the period. Finally, First Trust Direct Indexing L.P. grew its position in Wells Fargo & Company by 12.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 97,809 shares of the financial services provider's stock valued at $5,525,000 after purchasing an additional 11,054 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.
Wells Fargo & Company Stock Performance
Wells Fargo & Company stock traded down $0.49 during midday trading on Thursday, reaching $64.92. The stock had a trading volume of 12,173,821 shares, compared to its average volume of 18,017,785. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $220.97 billion, a PE ratio of 13.56, a P/E/G ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $39.24 and a 12 month high of $66.39. The firm's 50-day moving average price is $58.16 and its 200 day moving average price is $58.44.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its 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 business had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 EPS. As a group, research analysts predict that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.
Wells Fargo & Company Announces Dividend
The business also recently announced 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company's payout ratio is presently 33.26%.
Insider Buying and Selling at Wells Fargo & Company
In other news, EVP Ather Williams III sold 60,000 shares of the business's 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 completion of the transaction, the executive vice president now owns 163,610 shares of the company's stock, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Beurden Saul Van sold 35,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 126,687 shares of the company's stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value 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 approximately $10,421,957. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Wolfe Research raised shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price target for the company in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Keefe, Bruyette & Woods cut their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a "market perform" rating on the stock in a report on Monday, July 15th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a "hold" rating and cut their price objective for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Finally, Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating on the stock in a report on Monday, September 30th. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Hold" and an average target price of $62.12.
View Our Latest Research Report on Wells Fargo & Company
Wells Fargo & Company Company Profile
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Free Report)
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.
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