Larson Financial Group LLC Has $346,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Larson Financial Group LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 21.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,129 shares of the financial services provider’s stock after buying an additional 1,097 shares during the period. Larson Financial Group LLC’s holdings in Wells Fargo & Company were worth $346,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pitcairn Co. grew its holdings in shares of Wells Fargo & Company by 14.4% during the 3rd quarter. Pitcairn Co. now owns 52,086 shares of the financial services provider’s stock worth $2,942,000 after purchasing an additional 6,542 shares in the last quarter. Algert Global LLC acquired a new stake in Wells Fargo & Company during the third quarter worth $3,981,000. Great Valley Advisor Group Inc. increased its holdings in Wells Fargo & Company by 2.1% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 23,205 shares of the financial services provider’s stock valued at $1,311,000 after buying an additional 487 shares during the period. Nicolet Advisory Services LLC raised its stake in shares of Wells Fargo & Company by 4.7% in the 3rd quarter. Nicolet Advisory Services LLC now owns 32,472 shares of the financial services provider’s stock valued at $1,785,000 after buying an additional 1,460 shares in the last quarter. Finally, Stonebrook Private Inc. bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $214,000. 75.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction that occurred 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. This represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $77.31 on Wednesday. The stock has a market cap of $257.40 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.58 and a beta of 1.14. The stock has a 50-day moving average of $64.20 and a 200-day moving average of $60.01. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $42.52 and a one year high of $78.13.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during 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 for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.39 earnings per share. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Analyst Ratings Changes

A number of analysts recently weighed in on WFC shares. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Compass Point upped 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. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, September 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and cut their price objective for the company from $62.00 to $59.00 in a report on Friday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target 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.