Prospera Financial Services Inc Acquires 22,854 Shares of Wells Fargo & Company (NYSE:WFC)

Prospera Financial Services Inc raised its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 19.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,432 shares of the financial services provider's stock after acquiring an additional 22,854 shares during the quarter. Prospera Financial Services Inc's holdings in Wells Fargo & Company were worth $7,820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. OneAscent Financial Services LLC acquired a new position in Wells Fargo & Company during the 3rd quarter worth about $1,131,000. Caprock Group LLC grew its stake in shares of Wells Fargo & Company by 1.5% during the 3rd quarter. Caprock Group LLC now owns 83,671 shares of the financial services provider's stock worth $4,727,000 after acquiring an additional 1,214 shares in the last quarter. OneAscent Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $478,000. MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at $34,000. Finally, Drive Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 6.1% during the third quarter. Drive Wealth Management LLC now owns 24,149 shares of the financial services provider's stock worth $1,364,000 after buying an additional 1,381 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated Monday, October 14th. The stock was 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 directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

WFC has been the subject of several recent research reports. Morgan Stanley lowered their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating for the company in a research note on Monday, September 30th. Evercore ISI lifted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Phillip Securities upgraded Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and upped their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler increased their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $63.07.

Wells Fargo & Company Stock Down 0.6 %

WFC stock traded down $0.46 on Tuesday, reaching $73.63. 6,474,564 shares of the company traded hands, compared to its average volume of 18,074,260. The company has a market cap of $245.15 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 1.55 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 firm has a fifty day simple moving average of $61.56 and a 200-day simple moving average of $59.40. Wells Fargo & Company has a one year low of $42.15 and a one year high of $74.70.

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 the consensus estimate of $1.28 by $0.14. The firm 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%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 EPS. Research analysts anticipate that Wells Fargo & Company will post 5.42 earnings per share 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. Shareholders of record on Friday, November 8th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company's dividend payout ratio is 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.