Claro Advisors LLC Sells 1,838 Shares of Wells Fargo & Company (NYSE:WFC)

Claro Advisors LLC reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 11.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,271 shares of the financial services provider’s stock after selling 1,838 shares during the period. Claro Advisors LLC’s holdings in Wells Fargo & Company were worth $1,002,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Investors Research Corp increased its holdings in shares of Wells Fargo & Company by 1.2% during the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after buying an additional 160 shares in the last quarter. Ellenbecker Investment Group grew its position in shares of Wells Fargo & Company by 3.9% during the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after buying an additional 164 shares during the period. Income Research & Management acquired a new stake in Wells Fargo & Company in the third quarter worth $211,000. Modera Wealth Management LLC boosted its holdings in Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after acquiring an additional 167 shares in the last quarter. Finally, Catalina Capital Group LLC grew its position in Wells Fargo & Company by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 168 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.8 %

Shares of NYSE WFC traded up $0.53 during mid-day trading on Monday, reaching $70.49. 6,780,945 shares of the company were exchanged, compared to its average volume of 11,981,976. The firm has a 50-day moving average of $72.13 and a 200 day moving average of $62.97. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market cap of $234.70 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 EPS. On average, research analysts expect that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WFC. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Morgan Stanley lowered their price objective on 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. Finally, Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Tuesday, October 8th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.92.

Insider Buying and Selling at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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 sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.