Tredje AP fonden Sells 77,000 Shares of Wells Fargo & Company $WFC

Tredje AP fonden reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,385,394 shares of the financial services provider’s stock after selling 77,000 shares during the period. Wells Fargo & Company makes up about 0.9% of Tredje AP fonden’s holdings, making the stock its 19th largest holding. Tredje AP fonden’s holdings in Wells Fargo & Company were worth $116,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hillsdale Investment Management Inc. boosted its position in shares of Wells Fargo & Company by 536.5% during the third quarter. Hillsdale Investment Management Inc. now owns 33,812 shares of the financial services provider’s stock worth $2,834,000 after acquiring an additional 28,500 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Wells Fargo & Company by 18.1% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 34,975 shares of the financial services provider’s stock worth $2,932,000 after purchasing an additional 5,365 shares in the last quarter. Bridgewater Advisors Inc. lifted its stake in Wells Fargo & Company by 2.6% in the 3rd quarter. Bridgewater Advisors Inc. now owns 7,659 shares of the financial services provider’s stock worth $659,000 after purchasing an additional 195 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. bought a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $207,000. Finally, Jupiter Asset Management Ltd. grew its position in shares of Wells Fargo & Company by 16.5% during the third quarter. Jupiter Asset Management Ltd. now owns 322,787 shares of the financial services provider’s stock valued at $27,056,000 after purchasing an additional 45,638 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Insider Activity

In related news, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the completion of the transaction, the executive vice president directly owned 79,876 shares of the company’s stock, valued at approximately $7,006,722.72. The trade was a 23.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

Trending Headlines about Wells Fargo & Company

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of Wells Fargo & Company in a research report on Thursday, January 15th. CICC Research began coverage on Wells Fargo & Company in a research note on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 price objective on the stock. Truist Financial decreased their price objective on Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. UBS Group reissued a “buy” rating and issued a $113.00 target price on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.03.

View Our Latest Stock Report on WFC

Wells Fargo & Company Price Performance

NYSE:WFC opened at $88.61 on Friday. The firm has a market capitalization of $278.17 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 0.95 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The business has a 50 day simple moving average of $91.49 and a 200-day simple moving average of $86.15. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.10. The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.Wells Fargo & Company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 EPS. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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