Unison Asset Management LLC Has $5.83 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Unison Asset Management LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,241 shares of the financial services provider’s stock after selling 162 shares during the quarter. Wells Fargo & Company comprises 2.8% of Unison Asset Management LLC’s holdings, making the stock its 17th biggest position. Unison Asset Management LLC’s holdings in Wells Fargo & Company were worth $5,832,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WFC. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company in the second quarter worth $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth $29,000. MidAtlantic Capital Management Inc. bought a new position in shares of Wells Fargo & Company in the third quarter worth $34,000. Finally, Valued Wealth Advisors LLC increased its position in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.2 %

WFC opened at $76.88 on Monday. The company has a 50 day moving average of $63.28 and a 200 day moving average of $59.80. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $42.52 and a 12 month high of $76.88. The company has a market cap of $255.97 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.58 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & 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 posted $1.39 EPS. On average, sell-side analysts expect that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.08%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Insiders Place Their Bets

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on 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 directly owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and decreased their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, September 3rd. Wolfe Research raised 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 note on Tuesday, October 8th. Finally, Piper Sandler lifted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.07.

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.