Xcel Wealth Management LLC Sells 1,558 Shares of Wells Fargo & Company (NYSE:WFC)

Xcel Wealth Management LLC reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,051 shares of the financial services provider’s stock after selling 1,558 shares during the quarter. Xcel Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,698,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Argus Investors Counsel Inc. boosted its holdings in shares of Wells Fargo & Company by 34.6% in the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 8,107 shares in the last quarter. Sweeney & Michel LLC boosted its holdings in shares of Wells Fargo & Company by 8.8% in the 3rd quarter. Sweeney & Michel LLC now owns 24,173 shares of the financial services provider’s stock worth $1,366,000 after purchasing an additional 1,956 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of Wells Fargo & Company by 16.8% in the 3rd quarter. Oakworth Capital Inc. now owns 6,228 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 896 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 5.8% in the 3rd quarter. Foundations Investment Advisors LLC now owns 21,483 shares of the financial services provider’s stock worth $1,214,000 after purchasing an additional 1,179 shares in the last quarter. Finally, Integrity Financial Corp WA boosted its holdings in shares of Wells Fargo & Company by 44.5% in the 3rd quarter. Integrity Financial Corp WA now owns 10,831 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 3,333 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $0.99 during trading hours on Tuesday, hitting $65.01. The stock had a trading volume of 13,029,355 shares, compared to its average volume of 18,032,566. Wells Fargo & Company has a one year low of $38.58 and a one year high of $65.21. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The stock’s 50-day moving average price is $56.74 and its two-hundred day moving average price is $58.05. The stock has a market capitalization of $226.65 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.46 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 5.12 EPS for the current year.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the business’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 transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Ather Williams III sold 60,000 shares of the company’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 transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WFC. Morgan Stanley cut their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. 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 report on Tuesday, September 3rd. Finally, Evercore ISI increased their target price on Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Thirteen 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’s stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $61.82.

About Wells Fargo & Company

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.