1834 Investment Advisors Co. Purchases 2,644 Shares of Wells Fargo & Company (NYSE:WFC)

1834 Investment Advisors Co. lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 13.7% during the third quarter, Holdings Channel.com reports. The firm owned 21,910 shares of the financial services provider’s stock after buying an additional 2,644 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Wells Fargo & Company were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cardinal Capital Management Inc. lifted its holdings in shares of Wells Fargo & Company by 2.0% during the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after buying an additional 11,037 shares in the last quarter. Argus Investors Counsel Inc. raised its stake in Wells Fargo & Company by 34.6% in the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 8,107 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Wells Fargo & Company by 40.0% in the 2nd quarter. EP Wealth Advisors LLC now owns 179,282 shares of the financial services provider’s stock valued at $10,648,000 after purchasing an additional 51,234 shares during the period. Tocqueville Asset Management L.P. grew its position in shares of Wells Fargo & Company by 13.3% during the 1st quarter. Tocqueville Asset Management L.P. now owns 11,061 shares of the financial services provider’s stock worth $641,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of Wells Fargo & Company during the second quarter worth approximately $42,108,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on WFC. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.12.

Wells Fargo & Company Stock Up 0.6 %

NYSE:WFC opened at $64.07 on Wednesday. Wells Fargo & Company has a one year low of $40.27 and a one year high of $66.39. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $218.08 billion, a PE ratio of 13.32, a P/E/G ratio of 1.46 and a beta of 1.14. The firm’s 50 day simple moving average is $58.80 and its 200 day simple moving average is $58.62.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. The company 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%. Wells Fargo & Company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 earnings per share. On average, research analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Insider Activity at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $10,421,957. This trade 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 company insiders.

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.