Wells Fargo & Company (NYSE:WFC) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 21.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 546,624 shares of the financial services provider's stock after purchasing an additional 98,015 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Wells Fargo & Company were worth $30,879,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Hilton Capital Management LLC increased its holdings in shares of Wells Fargo & Company by 3.0% in the 3rd quarter. Hilton Capital Management LLC now owns 175,199 shares of the financial services provider's stock valued at $9,897,000 after acquiring an additional 5,123 shares during the last quarter. Strategy Asset Managers LLC acquired a new position in Wells Fargo & Company in the third quarter valued at approximately $691,000. Prospera Private Wealth LLC purchased a new position in Wells Fargo & Company in the third quarter valued at approximately $132,000. Avior Wealth Management LLC raised its holdings in Wells Fargo & Company by 8.9% during the third quarter. Avior Wealth Management LLC now owns 62,507 shares of the financial services provider's stock worth $3,531,000 after purchasing an additional 5,103 shares in the last quarter. Finally, West Family Investments Inc. boosted its holdings in shares of Wells Fargo & Company by 12.2% in the 3rd quarter. West Family Investments Inc. now owns 10,658 shares of the financial services provider's stock valued at $602,000 after buying an additional 1,163 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $0.88 during mid-day trading on Thursday, reaching $74.46. The stock had a trading volume of 830,145 shares, compared to its average volume of 18,022,771. Wells Fargo & Company has a 12-month low of $42.40 and a 12-month high of $74.70. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The business has a 50-day simple moving average of $62.35 and a 200 day simple moving average of $59.59. The company has a market cap of $247.91 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 1.53 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 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 company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. Wells Fargo & Company's dividend payout ratio (DPR) is 33.26%.

Analyst Ratings Changes

Several research firms have issued reports on WFC. The Goldman Sachs Group decreased their price objective 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. Citigroup raised their target price 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. Wolfe Research raised shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price objective on the stock in a research report on Tuesday, October 8th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. 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 research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $63.07.

Insider Activity

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the transaction, the executive vice president now owns 163,610 shares of the company's stock, valued at $10,421,957. This represents a 26.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares of the company's stock, valued at approximately $7,853,327.13. This represents a 21.65 % 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.