Wells Fargo & Company (NYSE:WFC) Position Boosted by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lifted its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 37.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 638,233 shares of the financial services provider's stock after purchasing an additional 173,083 shares during the period. Rockefeller Capital Management L.P.'s holdings in Wells Fargo & Company were worth $36,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cardinal Capital Management Inc. lifted its holdings in Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider's stock worth $32,505,000 after buying an additional 11,037 shares during the last quarter. Chartwell Investment Partners LLC lifted its holdings in Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider's stock worth $7,504,000 after buying an additional 18,717 shares during the last quarter. Argus Investors Counsel Inc. lifted its holdings in Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider's stock worth $1,780,000 after buying an additional 8,107 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Wells Fargo & Company by 14.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider's stock worth $58,055,000 after buying an additional 131,322 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in Wells Fargo & Company by 111.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider's stock worth $1,947,000 after buying an additional 18,138 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 1.3 %

WFC traded down $1.04 during trading on Friday, hitting $76.17. The company's stock had a trading volume of 9,785,038 shares, compared to its average volume of 18,115,742. The firm's 50 day moving average price is $65.48 and its 200-day moving average price is $60.36. 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 has a market cap of $253.61 billion, a PE ratio of 15.84, a PEG ratio of 1.61 and a beta of 1.14. Wells Fargo & Company has a twelve month low of $43.48 and a twelve month high of $78.13.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.39 EPS. On average, analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.10%. Wells Fargo & Company's dividend payout ratio is currently 33.26%.

Insider Activity at Wells Fargo & Company

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 completion of the transaction, the executive vice president now directly owns 163,610 shares of the company's stock, valued at $10,421,957. This represents a 26.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the executive vice president now directly owns 126,687 shares of the company's stock, 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 insiders.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 target price on the stock in a research report on Tuesday, September 3rd. Royal Bank of Canada restated a "sector perform" rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Phillip Securities raised Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and lifted their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, Wolfe Research raised 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 research 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 stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Hold" and a consensus target price of $63.07.

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.