Wells Fargo & Company $WFC Shares Sold by Capital World Investors

Capital World Investors lessened its stake in Wells Fargo & Company (NYSE:WFC) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,242,609 shares of the financial services provider’s stock after selling 434,219 shares during the quarter. Capital World Investors owned about 0.58% of Wells Fargo & Company worth $1,529,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $27,000. Marquette Asset Management LLC raised its position in shares of Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after buying an additional 274 shares during the period. Grey Fox Wealth Advisors LLC acquired a new position in Wells Fargo & Company in the third quarter valued at approximately $30,000. Kilter Group LLC acquired a new position in Wells Fargo & Company in the second quarter valued at approximately $31,000. Finally, Main Street Group LTD grew its position in Wells Fargo & Company by 36.9% in the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Activity

In other Wells Fargo & Company news, EVP Bridget E. Engle sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the transaction, the executive vice president directly owned 83,478 shares in the company, valued at approximately $7,270,933.80. This represents a 26.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kleber Santos sold 25,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the sale, the executive vice president owned 79,876 shares in the company, valued at $7,006,722.72. This trade represents a 23.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 115,000 shares of company stock worth $10,050,000 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Wells Fargo & Company Trading Down 0.7%

NYSE:WFC opened at $78.30 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $241.62 billion, a PE ratio of 12.49, a P/E/G ratio of 0.86 and a beta of 1.08. The stock’s 50 day moving average price is $88.83 and its 200 day moving average price is $86.66. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.66 by $0.10. The firm had revenue of $21.29 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 EPS. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 6th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WFC. Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. UBS Group reiterated a “buy” rating and set a $113.00 price target on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Wolfe Research reissued an “outperform” rating and set a $109.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Freedom Capital cut shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 15th. Finally, Truist Financial lowered their target price on shares of Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Thirteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Wells Fargo & Company Profile

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.