Wells Fargo & Company (NYSE:WFC) Shares Bought by Forsta AP Fonden

Forsta AP Fonden increased its position in Wells Fargo & Company (NYSE:WFC) by 6.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 870,800 shares of the financial services provider’s stock after acquiring an additional 53,900 shares during the period. Forsta AP Fonden’s holdings in Wells Fargo & Company were worth $49,191,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Brookstone Capital Management grew its holdings in shares of Wells Fargo & Company by 6.9% in the 1st quarter. Brookstone Capital Management now owns 19,476 shares of the financial services provider’s stock worth $1,129,000 after acquiring an additional 1,263 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Wells Fargo & Company by 3.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,414 shares of the financial services provider’s stock worth $778,000 after buying an additional 391 shares during the period. Kathmere Capital Management LLC lifted its stake in Wells Fargo & Company by 4.3% during the first quarter. Kathmere Capital Management LLC now owns 7,916 shares of the financial services provider’s stock valued at $459,000 after buying an additional 324 shares in the last quarter. Webster Bank N. A. boosted its holdings in shares of Wells Fargo & Company by 2.0% in the first quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock worth $588,000 after buying an additional 202 shares during the period. Finally, Trust Co. of Virginia VA purchased a new position in shares of Wells Fargo & Company in the first quarter worth approximately $201,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research analyst reports. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday, October 8th. Morgan Stanley lowered their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. BMO Capital Markets upped their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Royal Bank of Canada reissued 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. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $61.82.

Insider Activity 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 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 of the company’s stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded down $0.90 during mid-day trading on Friday, hitting $64.53. 14,855,494 shares of the company were exchanged, compared to its average volume of 18,084,012. The company has a market capitalization of $219.65 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The business has a fifty day moving average of $57.60 and a 200 day moving average of $58.25. Wells Fargo & Company has a 1-year low of $38.62 and a 1-year high of $65.95. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) 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. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.39 EPS. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.36 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 8th. 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 presently 33.26%.

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.