Wells Fargo & Company (NYSE:WFC) Shares Bought by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 7.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,427 shares of the financial services provider’s stock after purchasing an additional 455 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Wells Fargo & Company were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in Wells Fargo & Company by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after acquiring an additional 831,975 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after purchasing an additional 2,349,595 shares in the last quarter. First Pacific Advisors LP lifted its stake in shares of Wells Fargo & Company by 2.1% in the 2nd quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock valued at $313,500,000 after purchasing an additional 108,480 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Wells Fargo & Company by 38.1% during the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after buying an additional 1,415,647 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Wells Fargo & Company by 1.0% during the first quarter. Russell Investments Group Ltd. now owns 4,662,953 shares of the financial services provider’s stock valued at $270,035,000 after buying an additional 48,419 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the topic of several recent analyst reports. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Evercore ISI boosted their price objective on Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. BMO Capital Markets increased their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley dropped 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 note 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.82.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $64.56 on Thursday. The business’s 50 day moving average price is $57.20 and its 200 day moving average price is $58.15. The company has a market cap of $225.08 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a one year low of $38.58 and a one year high of $65.21.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. Wells Fargo & Company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s payout ratio is 32.85%.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated 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 approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

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.