Confluence Wealth Services Inc. Has $401,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Confluence Wealth Services Inc. reduced its stake in Wells Fargo & Company (NYSE:WFC) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,099 shares of the financial services provider’s stock after selling 304 shares during the period. Confluence Wealth Services Inc.’s holdings in Wells Fargo & Company were worth $401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Ellenbecker Investment Group raised its holdings in Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares during the last quarter. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth $211,000. Modera Wealth Management LLC boosted its position in shares of Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after buying an additional 167 shares in the last quarter. John W. Brooker & Co. CPAs grew its stake in Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 171 shares during the last quarter. Finally, McAdam LLC increased its holdings in Wells Fargo & Company by 3.3% during the 2nd quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 178 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Evercore ISI increased their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Tuesday, October 8th. 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.12.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $64.68 on Monday. The firm has a market capitalization of $220.16 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a 12-month low of $39.39 and a 12-month high of $66.39. The business has a 50 day simple moving average of $58.50 and a 200 day simple moving average of $58.56.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results 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. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the firm posted $1.39 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.36 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.47%. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Insider Activity at Wells Fargo & Company

In related news, 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 value of $3,822,000.00. Following the transaction, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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 disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.