Fiduciary Family Office LLC Sells 2,582 Shares of Wells Fargo & Company (NYSE:WFC)

Fiduciary Family Office LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,391 shares of the financial services provider’s stock after selling 2,582 shares during the quarter. Wells Fargo & Company makes up about 0.8% of Fiduciary Family Office LLC’s portfolio, making the stock its 19th biggest position. Fiduciary Family Office LLC’s holdings in Wells Fargo & Company were worth $2,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cardinal Capital Management Inc. raised its stake in Wells Fargo & Company by 2.0% in the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after acquiring an additional 11,037 shares during the last quarter. Argus Investors Counsel Inc. raised its position in Wells Fargo & Company by 34.6% in the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock valued at $1,780,000 after purchasing an additional 8,107 shares during the period. EP Wealth Advisors LLC grew its position in Wells Fargo & Company by 40.0% in the 2nd quarter. EP Wealth Advisors LLC now owns 179,282 shares of the financial services provider’s stock valued at $10,648,000 after acquiring an additional 51,234 shares in the last quarter. Tocqueville Asset Management L.P. grew its position in shares of Wells Fargo & Company by 13.3% during the first quarter. Tocqueville Asset Management L.P. now owns 11,061 shares of the financial services provider’s stock worth $641,000 after buying an additional 1,295 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in Wells Fargo & Company during the second quarter worth approximately $42,108,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC stock traded up $0.38 on Tuesday, hitting $64.08. The company had a trading volume of 2,252,441 shares, compared to its average volume of 17,896,875. Wells Fargo & Company has a 12-month low of $40.27 and a 12-month high of $66.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock’s 50-day simple moving average is $58.64 and its 200 day simple moving average is $58.59. The stock has a market cap of $218.11 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.46 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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. The firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. As a group, equities research analysts expect that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.50%. Wells Fargo & Company’s payout ratio is 33.26%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Compass Point upped their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and cut their price objective for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Keefe, Bruyette & Woods lowered their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, September 3rd. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.12.

Insider Activity

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

Wells Fargo & Company 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.