Townsquare Capital LLC Has $25.03 Million Stake in Wells Fargo & Company (NYSE:WFC)

Townsquare Capital LLC lessened its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 443,044 shares of the financial services provider's stock after selling 15,955 shares during the period. Townsquare Capital LLC's holdings in Wells Fargo & Company were worth $25,028,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research firms recently commented on WFC. Citigroup raised their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. The Goldman Sachs Group dropped their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, September 11th. Jefferies Financial Group downgraded Wells Fargo & Company to a "hold" rating and reduced their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 target price for the company in a research report on Tuesday, September 3rd. Finally, 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. Thirteen investment 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 company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $63.07.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $77.31 on Wednesday. The stock has a 50-day moving average price of $64.20 and a two-hundred day moving average price of $60.01. Wells Fargo & Company has a 12 month low of $42.52 and a 12 month high of $78.13. The company has a market capitalization of $257.40 billion, a PE ratio of 16.07, a P/E/G ratio of 1.60 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data 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. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the business earned $1.39 EPS. The firm's quarterly revenue was down 2.4% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company's dividend payout ratio is currently 33.26%.

Insiders Place Their Bets

In other news, EVP Beurden Saul Van sold 35,000 shares of the firm's stock in a transaction that occurred 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 owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on 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. The trade was a 26.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

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.

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