Asset Management One Co. Ltd. Sells 20,001 Shares of Wells Fargo & Company (NYSE:WFC)

Asset Management One Co. Ltd. lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.5% during the third quarter, Holdings Channel.com reports. The fund owned 1,353,457 shares of the financial services provider’s stock after selling 20,001 shares during the period. Asset Management One Co. Ltd.’s holdings in Wells Fargo & Company were worth $76,457,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Wells Fargo & Company by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after acquiring an additional 831,975 shares in the last quarter. National Pension Service lifted its holdings in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares during the period. 1832 Asset Management L.P. raised its position in shares of Wells Fargo & Company by 67.1% in the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after acquiring an additional 2,349,595 shares in the last quarter. First Pacific Advisors LP increased its holdings in Wells Fargo & Company by 2.1% during the 2nd quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock worth $313,500,000 after purchasing an additional 108,480 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew 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 valued at $297,411,000 after purchasing an additional 1,415,647 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WFC shares. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and lowered their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Piper Sandler raised their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Compass Point raised their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $62.12.

Insider Buying and Selling

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 value of $3,822,000.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ather Williams III sold 60,000 shares of the firm’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 transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded down $0.83 during mid-day trading on Monday, hitting $63.85. The stock had a trading volume of 1,242,196 shares, compared to its average volume of 17,916,965. The firm has a market capitalization of $217.33 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.46 and a beta of 1.14. Wells Fargo & Company has a one year low of $40.27 and a one year high of $66.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm’s 50 day moving average is $58.50 and its 200 day moving average is $58.56.

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. The firm had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 EPS. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

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.