Meadow Creek Wealth Advisors LLC Purchases Shares of 3,567 Wells Fargo & Company (NYSE:WFC)

Meadow Creek Wealth Advisors LLC bought a new position in Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,567 shares of the financial services provider’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Marshall Wace LLP increased 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 last quarter. 1832 Asset Management L.P. grew its holdings in shares of 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. Rokos Capital Management LLP grew its holdings 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 last quarter. Canada Pension Plan Investment Board lifted its stake 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 acquiring an additional 1,415,647 shares during the period. Finally, UniSuper Management Pty Ltd lifted its stake in Wells Fargo & Company by 378.5% in the first quarter. UniSuper Management Pty Ltd now owns 1,198,987 shares of the financial services provider’s stock worth $69,493,000 after acquiring an additional 948,422 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Ather Williams III sold 60,000 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred 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 approximately $10,421,957. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $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. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wolfe Research raised 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. Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Piper Sandler boosted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, BMO Capital Markets upped their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.82.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $64.51 on Wednesday. The business’s 50 day moving average price is $56.98 and its 200 day moving average price is $58.11. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market cap of $224.90 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a one year low of $38.58 and a one year high of $65.21.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, research analysts predict that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.48%. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

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.