Wells Fargo & Company (NYSE:WFC) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. lowered its position in Wells Fargo & Company (NYSE:WFC) by 10.8% in the third quarter, Holdings Channel reports. The fund owned 37,282 shares of the financial services provider’s stock after selling 4,529 shares during the period. Centaurus Financial Inc.’s holdings in Wells Fargo & Company were worth $2,106,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company during the 2nd quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new position in Wells Fargo & Company in the 3rd quarter valued at about $34,000. Valued Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the period. Finally, Fairscale Capital LLC acquired a new position in Wells Fargo & Company in the 2nd quarter valued at $47,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $75.96 on Monday. The company has a market cap of $252.91 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.58 and a beta of 1.14. The business has a fifty day simple moving average of $63.28 and a 200-day simple moving average of $59.80. Wells Fargo & Company has a 52 week low of $42.52 and a 52 week high of $76.08. 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 posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the business earned $1.39 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business 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. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Insiders Place Their Bets

In other news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on WFC shares. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and reduced their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Compass Point increased their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Thirteen 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.07.

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.