Vinva Investment Management Ltd Has $7.55 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Vinva Investment Management Ltd decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 7.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,122 shares of the financial services provider’s stock after selling 10,534 shares during the quarter. Vinva Investment Management Ltd’s holdings in Wells Fargo & Company were worth $7,553,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cardinal Capital Management Inc. raised its position in shares of Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after acquiring an additional 11,037 shares during the last quarter. Chartwell Investment Partners LLC grew its stake in shares of Wells Fargo & Company by 16.4% during the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after purchasing an additional 18,717 shares during the period. Argus Investors Counsel Inc. increased its holdings 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 last quarter. Mesirow Financial Investment Management Inc. lifted its stake in Wells Fargo & Company by 111.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider’s stock valued at $1,947,000 after buying an additional 18,138 shares during the period. Finally, Portfolio Design Labs LLC boosted its holdings in Wells Fargo & Company by 41.2% during the third quarter. Portfolio Design Labs LLC now owns 56,314 shares of the financial services provider’s stock worth $3,181,000 after buying an additional 16,428 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $77.17 on Thursday. 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 12 month low of $42.79 and a 12 month high of $78.13. The firm has a fifty day simple moving average of $64.65 and a 200 day simple moving average of $60.13. The stock has a market capitalization of $256.94 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.60 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last released 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 return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the previous year, the business earned $1.39 earnings per share. Wells Fargo & Company’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.42 EPS 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. Stockholders of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Insider Buying and Selling

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 stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on WFC shares. The Goldman Sachs Group lowered their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Compass Point lifted their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $63.07.

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.