Wells Fargo & Company (NYSE:WFC) Shares Purchased by Cullinan Associates Inc.

Cullinan Associates Inc. grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 44,145 shares of the financial services provider’s stock after purchasing an additional 1,500 shares during the quarter. Cullinan Associates Inc.’s holdings in Wells Fargo & Company were worth $2,494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Ballentine Partners LLC increased its stake in Wells Fargo & Company by 4.4% in the third quarter. Ballentine Partners LLC now owns 39,667 shares of the financial services provider’s stock valued at $2,241,000 after purchasing an additional 1,676 shares during the last quarter. Financial Partners Group LLC grew its holdings in Wells Fargo & Company by 10.4% in the 3rd quarter. Financial Partners Group LLC now owns 16,011 shares of the financial services provider’s stock valued at $904,000 after buying an additional 1,502 shares during the period. DT Investment Partners LLC increased its stake in shares of Wells Fargo & Company by 9.3% during the 3rd quarter. DT Investment Partners LLC now owns 3,851 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 327 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Wells Fargo & Company by 8.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock worth $5,446,000 after acquiring an additional 7,415 shares during the period. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $984,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WFC shares. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, Compass Point increased their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $61.82.

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the business’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 sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Up 0.2 %

Shares of WFC stock traded up $0.14 during mid-day trading on Friday, reaching $65.57. 1,146,824 shares of the company were exchanged, compared to its average volume of 18,017,875. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50 day simple moving average is $57.20 and its 200 day simple moving average is $58.15. The company has a market capitalization of $223.19 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $38.62 and a fifty-two week high of $65.90.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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 business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.39 earnings per share. Research analysts predict that Wells Fargo & Company will post 5.36 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.44%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

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.