Wells Fargo & Company (NYSE:WFC) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,148 shares of the financial services provider’s stock after selling 264 shares during the period. Marks Group Wealth Management Inc’s holdings in Wells Fargo & Company were worth $1,760,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. HF Advisory Group LLC grew its position in Wells Fargo & Company by 10.3% in the 3rd quarter. HF Advisory Group LLC now owns 38,893 shares of the financial services provider’s stock valued at $2,197,000 after acquiring an additional 3,637 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in shares of Wells Fargo & Company by 3.5% in the third quarter. Crestwood Advisors Group LLC now owns 37,017 shares of the financial services provider’s stock valued at $2,091,000 after purchasing an additional 1,262 shares in the last quarter. Pittenger & Anderson Inc. increased its stake in Wells Fargo & Company by 24.5% during the 3rd quarter. Pittenger & Anderson Inc. now owns 1,035 shares of the financial services provider’s stock worth $58,000 after buying an additional 204 shares during the period. Stoneridge Investment Partners LLC lifted its holdings in Wells Fargo & Company by 941.7% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 195,561 shares of the financial services provider’s stock worth $11,047,000 after buying an additional 176,787 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in Wells Fargo & Company in the 3rd quarter valued at approximately $160,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WFC has been the topic of several analyst reports. BMO Capital Markets increased their price objective on 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. Compass Point increased their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, September 3rd. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group dropped their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. 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 stock currently has an average rating of “Hold” and an average price target of $62.12.

Wells Fargo & Company Trading Up 13.2 %

Shares of Wells Fargo & Company stock opened at $72.54 on Thursday. Wells Fargo & Company has a 52-week low of $40.27 and a 52-week high of $74.27. The company’s 50-day simple moving average is $59.11 and its 200-day simple moving average is $58.72. The firm has a market cap of $241.52 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the company posted $1.39 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Insider Activity

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & 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.