Principal Financial Group Inc. Has $219.62 Million Position in Wells Fargo & Company (NYSE:WFC)

Principal Financial Group Inc. decreased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 11.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,887,675 shares of the financial services provider's stock after selling 484,467 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of Wells Fargo & Company worth $219,615,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. WoodTrust Financial Corp lifted its position in Wells Fargo & Company by 21.2% during the 3rd quarter. WoodTrust Financial Corp now owns 5,996 shares of the financial services provider's stock worth $339,000 after acquiring an additional 1,049 shares during the last quarter. M&G PLC lifted its position in shares of Wells Fargo & Company by 31.8% during the 3rd quarter. M&G PLC now owns 755,930 shares of the financial services provider's stock worth $42,332,000 after purchasing an additional 182,274 shares during the last quarter. Trademark Financial Management LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $215,000. Consilium Wealth Advisory LLC boosted its stake in Wells Fargo & Company by 0.4% during the 3rd quarter. Consilium Wealth Advisory LLC now owns 156,278 shares of the financial services provider's stock valued at $8,828,000 after purchasing an additional 646 shares during the period. Finally, Concurrent Investment Advisors LLC grew its holdings in Wells Fargo & Company by 1.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 41,403 shares of the financial services provider's stock valued at $2,339,000 after buying an additional 643 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the subject of several research reports. Morgan Stanley reduced their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating for the company in a research report on Monday, September 30th. Piper Sandler raised their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Finally, Wolfe Research upgraded Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price target on the stock in a research note on Tuesday, October 8th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $62.12.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the company's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This 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. In other news, EVP Ather Williams III sold 60,000 shares of the company's stock in a transaction dated 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 $10,421,957. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 transaction, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $0.11 during trading hours on Friday, hitting $69.93. 9,119,437 shares of the company's stock were exchanged, compared to its average volume of 18,122,652. Wells Fargo & Company has a 52 week low of $40.27 and a 52 week high of $74.27. The stock has a market cap of $232.83 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. 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 stock's 50-day moving average is $59.11 and its 200-day moving average is $58.72.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating 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 firm had revenue of $20.37 billion during the quarter, compared to analysts' expectations of $20.40 billion. During the same quarter last year, the company posted $1.39 EPS. The company's quarterly revenue was down 2.4% compared to the same quarter last year. As a group, research analysts forecast that Wells Fargo & Company will post 5.36 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company's dividend payout ratio is 33.26%.

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.