Wells Fargo & Company (NYSE:WFC) Holdings Boosted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 64.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 244,419 shares of the financial services provider's stock after acquiring an additional 95,621 shares during the period. Los Angeles Capital Management LLC's holdings in Wells Fargo & Company were worth $13,807,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WFC. Dimensional Fund Advisors LP boosted its position 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 valued at $1,178,591,000 after buying an additional 831,975 shares during the last quarter. National Pension Service boosted its position in 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 during the last quarter. 1832 Asset Management L.P. boosted its position in Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider's stock worth $339,226,000 after purchasing an additional 2,349,595 shares during the last quarter. First Pacific Advisors LP boosted its position in Wells Fargo & Company by 2.1% in the second quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider's stock worth $313,500,000 after purchasing an additional 108,480 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Wells Fargo & Company by 38.1% in the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider's stock worth $297,411,000 after purchasing an additional 1,415,647 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded down $0.30 during mid-day trading on Tuesday, reaching $72.26. The stock had a trading volume of 7,889,627 shares, compared to its average volume of 18,094,861. The firm has a market cap of $240.59 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.57 and a beta of 1.14. Wells Fargo & Company has a 1-year low of $40.53 and a 1-year high of $74.27. The business's fifty day moving average is $59.87 and its 200-day moving average is $58.92. 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 EPS for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period last year, the company earned $1.39 earnings per share. Wells Fargo & Company's quarterly revenue was down 2.4% compared to the same quarter last year. On average, research analysts forecast that Wells Fargo & Company will post 5.39 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.21%. Wells Fargo & Company's dividend payout ratio (DPR) is 33.26%.

Insiders Place Their Bets

In related news, EVP Ather Williams III sold 60,000 shares of the business's 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 completion of the transaction, the executive vice president now directly owns 163,610 shares of the company's stock, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Ather Williams III sold 60,000 shares of the company's stock in a transaction that occurred on 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 owns 163,610 shares of the company's stock, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the 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 in the company, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Jefferies Financial Group downgraded Wells Fargo & Company to a "hold" rating and decreased their price objective for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Royal Bank of Canada reissued a "sector perform" rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price target for the company in a report on Tuesday, September 3rd. The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, September 11th. Finally, Piper Sandler boosted their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Thirteen equities 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 company. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Hold" and an average target price of $62.12.

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.