Wells Fargo & Company (NYSE:WFC) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,138 shares of the financial services provider's stock after selling 9,648 shares during the period. Summit Trail Advisors LLC's holdings in Wells Fargo & Company were worth $3,680,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Canoe Financial LP bought a new stake in Wells Fargo & Company during the third quarter valued at about $160,529,000. Marshall Wace LLP boosted its position in shares of Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider's stock worth $138,493,000 after purchasing an additional 2,404,898 shares during the period. Rokos Capital Management LLP boosted its position in shares of Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider's stock worth $151,853,000 after purchasing an additional 1,536,152 shares during the period. National Pension Service increased its stake in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock worth $383,532,000 after purchasing an additional 897,195 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Wells Fargo & Company by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider's stock valued at $1,178,591,000 after buying an additional 831,975 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 1.5 %

NYSE:WFC traded up $1.13 during midday trading on Friday, hitting $75.96. The stock had a trading volume of 14,997,402 shares, compared to its average volume of 18,191,614. Wells Fargo & Company has a one year low of $42.52 and a one year high of $76.08. 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 stock has a 50-day moving average of $63.28 and a 200 day moving average of $59.80. The company has a market capitalization of $252.91 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.56 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion for 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 was down 2.4% compared to the same quarter last year. During the same period last year, the business posted $1.39 EPS. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.42 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. Stockholders of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company's dividend payout ratio is currently 33.26%.

Insider Buying and Selling

In related news, EVP Beurden Saul Van sold 35,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at $7,853,327.13. This represents a 21.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value 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 approximately $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on WFC shares. Piper Sandler raised their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the company a "neutral" rating in a report on Monday, October 14th. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. Wolfe Research upgraded Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of "Hold" and a consensus target price of $63.07.

Wells Fargo & Company 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.