Alliance Wealth Advisors LLC Increases Stock Position in Wells Fargo & Company (NYSE:WFC)

Alliance Wealth Advisors LLC boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,505 shares of the financial services provider’s stock after purchasing an additional 210 shares during the quarter. Alliance Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $593,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WFC. B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at about $452,000. Transform Wealth LLC grew its holdings in shares of Wells Fargo & Company by 117.2% during the third quarter. Transform Wealth LLC now owns 228,595 shares of the financial services provider’s stock worth $12,913,000 after buying an additional 123,326 shares during the last quarter. Vontobel Holding Ltd. increased its position in Wells Fargo & Company by 106.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 48,233 shares of the financial services provider’s stock valued at $2,725,000 after acquiring an additional 24,911 shares during the period. Sumitomo Life Insurance Co. raised its stake in Wells Fargo & Company by 2.4% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 43,307 shares of the financial services provider’s stock valued at $2,446,000 after acquiring an additional 1,030 shares during the last quarter. Finally, Sunpointe LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $204,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. 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 stock in a transaction dated 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 transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $63.86 on Thursday. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $64.08. The stock has a market cap of $222.64 billion, a P/E ratio of 13.11, a PEG ratio of 1.46 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average of $56.04 and a two-hundred day moving average of $57.90.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.39 EPS. As a group, research analysts predict that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.51%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the company from $60.83 to $65.00 in a report on Tuesday. BMO Capital Markets boosted their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Keefe, Bruyette & Woods lowered their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday. Thirteen equities research 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.82.

About Wells Fargo & Company

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.