Wells Fargo & Company (NYSE:WFC) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,972 shares of the financial services provider’s stock after selling 1,079 shares during the period. Advisors Asset Management Inc.’s holdings in Wells Fargo & Company were worth $2,710,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Ascent Group LLC lifted its holdings in shares of Wells Fargo & Company by 295.6% in the first quarter. Ascent Group LLC now owns 35,587 shares of the financial services provider’s stock valued at $2,063,000 after buying an additional 26,591 shares during the period. Zurich Insurance Group Ltd FI raised its position in Wells Fargo & Company by 0.6% in the first quarter. Zurich Insurance Group Ltd FI now owns 2,248,367 shares of the financial services provider’s stock worth $130,315,000 after acquiring an additional 13,583 shares in the last quarter. Waverly Advisors LLC lifted its holdings in Wells Fargo & Company by 34.2% in the 1st quarter. Waverly Advisors LLC now owns 49,364 shares of the financial services provider’s stock valued at $2,861,000 after acquiring an additional 12,588 shares during the last quarter. Black Maple Capital Management LP boosted its position in shares of Wells Fargo & Company by 174.5% during the 1st quarter. Black Maple Capital Management LP now owns 14,000 shares of the financial services provider’s stock valued at $811,000 after purchasing an additional 8,900 shares in the last quarter. Finally, Interval Partners LP grew its stake in shares of Wells Fargo & Company by 32,255.8% in the 1st quarter. Interval Partners LP now owns 160,779 shares of the financial services provider’s stock worth $9,319,000 after purchasing an additional 161,279 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Beurden Saul Van sold 35,000 shares of the business’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 transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the firm’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 completion of the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Trading Up 1.5 %

NYSE:WFC opened at $75.96 on Friday. The company has a market capitalization of $252.91 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.56 and a beta of 1.14. The stock’s 50 day moving average price is $63.28 and its 200 day moving average price is $59.81. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a 52 week low of $42.52 and a 52 week high of $76.08.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping 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 company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the business posted $1.39 EPS. Wells Fargo & Company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WFC shares. Morgan Stanley reduced their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Piper Sandler increased their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group cut their price objective on 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, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Thirteen investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.07.

Wells Fargo & Company 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.