Profund Advisors LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 22.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,988 shares of the financial services provider’s stock after selling 9,685 shares during the period. Profund Advisors LLC’s holdings in Wells Fargo & Company were worth $3,168,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. ProShare Advisors LLC raised its holdings in Wells Fargo & Company by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 670,344 shares of the financial services provider’s stock valued at $62,476,000 after buying an additional 20,470 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Wells Fargo & Company by 5.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 132,558 shares of the financial services provider’s stock valued at $12,354,000 after buying an additional 6,515 shares during the period. Aerodigm Wealth LLC raised its holdings in Wells Fargo & Company by 2.3% in the 4th quarter. Aerodigm Wealth LLC now owns 18,404 shares of the financial services provider’s stock valued at $1,715,000 after buying an additional 417 shares during the period. VSM Wealth Advisory LLC raised its holdings in Wells Fargo & Company by 3.4% in the 4th quarter. VSM Wealth Advisory LLC now owns 5,426 shares of the financial services provider’s stock valued at $506,000 after buying an additional 176 shares during the period. Finally, Stronghold Wealth Management L.L.C. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $396,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
Trending Headlines about Wells Fargo & Company
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Wells Fargo will present at the Bernstein Strategic Decisions Conference on May 27, keeping management visible to investors and potentially reinforcing the bank’s strategy and outlook. Wells Fargo to Present at the Bernstein Strategic Decisions Conference
- Positive Sentiment: The NAHB/Wells Fargo Housing Market Index unexpectedly rose to 37 in May from 34 in April, a sign that homebuilder sentiment is improving and could support loan demand in the housing market. U.S. Homebuilder Confidence Unexpectedly Rebounds In May
- Positive Sentiment: Wells Fargo and other banks moved up league tables after helping arrange NextEra Energy’s $67 billion deal for Dominion Energy, highlighting stronger investment-banking activity. Lazard, Wells Fargo Vault Up League Tables on NextEra-Dominion Deal
- Neutral Sentiment: One article noted Wells Fargo’s preferred shares offer a discounted yield opportunity with interest-rate optionality, which is more of an investor commentary piece than a direct company catalyst. Wells Fargo Long Duration Preferred: Safe Yield, Discount To Par, And Interest Rate Optionality
- Negative Sentiment: Wells Fargo agreed to a $110 million settlement over lending and hiring discrimination claims, including a $100 million borrower-assistance fund, which may weigh on sentiment despite removing legal uncertainty. Wells Fargo agrees to $110M lending, hiring discrimination settlement
Wall Street Analysts Forecast Growth
Check Out Our Latest Report on WFC
Insider Transactions at Wells Fargo & Company
In other news, EVP Ellen R. Patterson sold 60,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the transaction, the executive vice president directly owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Bridget E. Engle sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was 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 of the company’s stock, valued at approximately $7,270,933.80. This represents a 26.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 115,000 shares of company stock valued at $10,050,000. 0.14% of the stock is currently owned by corporate insiders.
Wells Fargo & Company Stock Performance
Shares of Wells Fargo & Company stock opened at $74.55 on Wednesday. Wells Fargo & Company has a one year low of $71.89 and a one year high of $97.76. The company has a market cap of $228.12 billion, a PE ratio of 11.50, a P/E/G ratio of 0.87 and a beta of 0.96. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The business has a 50-day simple moving average of $79.03 and a 200-day simple moving average of $85.46.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same period in the previous year, the company posted $1.39 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. Wells Fargo & Company’s payout ratio is currently 27.78%.
About Wells Fargo & Company
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.
Recommended Stories
- Five stocks we like better than Wells Fargo & Company
- HIVE Weaponizes Power for an AI Pivot
- A Deep Dive Into NVIDIA’s Latest Portfolio Moves
- Brady Corp Wires Up a Massive AI-Powered Breakout
- Why Home Depot’s Sell-Off Could Become a Huge Opportunity
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC – Free Report).
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.
