Allen Capital Group LLC Has $410,000 Stake in Wells Fargo & Company (NYSE:WFC)

Allen Capital Group LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 17.2% during the third quarter, Holdings Channel.com reports. The firm owned 7,264 shares of the financial services provider’s stock after purchasing an additional 1,064 shares during the period. Allen Capital Group LLC’s holdings in Wells Fargo & Company were worth $410,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WFC. Canoe Financial LP acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $160,529,000. Marshall Wace LLP raised its position in Wells Fargo & Company by 3,295.6% in the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after buying an additional 2,404,898 shares during the last quarter. Rokos Capital Management LLP raised its position in Wells Fargo & Company by 141.6% in the 1st quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after buying an additional 1,536,152 shares during the last quarter. National Pension Service raised its position in Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after buying an additional 897,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Wells Fargo & Company by 4.4% in 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 buying an additional 831,975 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm’s 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 owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 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 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of analyst reports. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Morgan Stanley decreased their target price 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. Compass Point raised their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, October 8th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.07.

Wells Fargo & Company Stock Up 1.5 %

Shares of NYSE WFC opened at $75.96 on Friday. Wells Fargo & Company has a 52 week low of $42.52 and a 52 week high of $76.08. The business has a 50-day simple moving average of $63.28 and a two-hundred day simple moving average of $59.81. 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 company has a market cap of $252.91 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.56 and a beta of 1.14.

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 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 business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the company earned $1.39 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.11%. Wells Fargo & Company’s dividend payout ratio 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.