Encompass More Asset Management Has $435,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Encompass More Asset Management increased its position in Wells Fargo & Company (NYSE:WFC) by 29.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,707 shares of the financial services provider’s stock after purchasing an additional 1,771 shares during the quarter. Encompass More Asset Management’s holdings in Wells Fargo & Company were worth $435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $26,000. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $29,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $34,000. Finally, Valued Wealth Advisors LLC boosted its position in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE WFC opened at $76.20 on Friday. The firm’s 50 day moving average is $65.48 and its 200-day moving average is $60.36. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $253.71 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14. Wells Fargo & Company has a 12-month low of $43.48 and a 12-month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last issued 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 firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the business earned $1.39 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. Wells Fargo & Company’s dividend payout ratio is 33.26%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

WFC has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, September 3rd. Evercore ISI increased their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.07.

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.