Wells Fargo & Company (NYSE:WFC) Shares Sold by Global Trust Asset Management LLC

Global Trust Asset Management LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,736 shares of the financial services provider’s stock after selling 578 shares during the period. Global Trust Asset Management LLC’s holdings in Wells Fargo & Company were worth $550,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Assenagon Asset Management S.A. lifted its stake in Wells Fargo & Company by 8.3% in the third quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock valued at $5,446,000 after buying an additional 7,415 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth about $984,000. Grimes & Company Inc. grew its position in shares of Wells Fargo & Company by 3.1% during the third quarter. Grimes & Company Inc. now owns 31,678 shares of the financial services provider’s stock worth $1,789,000 after acquiring an additional 949 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Wells Fargo & Company during the third quarter worth about $637,000. Finally, Global Assets Advisory LLC grew its position in shares of Wells Fargo & Company by 8.5% during the third quarter. Global Assets Advisory LLC now owns 7,678 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 602 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, 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 owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and decreased their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Evercore ISI increased their target price on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Morgan Stanley decreased their target price 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. Thirteen investment 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.82.

Wells Fargo & Company Price Performance

WFC stock opened at $65.43 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a one year low of $38.58 and a one year high of $65.57. The firm has a market capitalization of $222.71 billion, a PE ratio of 13.60, a P/E/G ratio of 1.46 and a beta of 1.16. The firm has a 50-day moving average of $57.20 and a two-hundred day moving average of $58.15.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 earnings per share. On average, analysts forecast 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. Stockholders of record on Friday, November 8th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

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.