Natixis Advisors LLC Decreases Holdings in Wells Fargo & Company (NYSE:WFC)

Natixis Advisors LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 12.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,521,579 shares of the financial services provider’s stock after selling 343,997 shares during the period. Natixis Advisors LLC’s holdings in Wells Fargo & Company were worth $142,444,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Coastline Trust Co boosted its stake in Wells Fargo & Company by 17.1% in the third quarter. Coastline Trust Co now owns 6,172 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 900 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Wells Fargo & Company by 13.6% during the 3rd quarter. Empowered Funds LLC now owns 159,820 shares of the financial services provider’s stock worth $9,028,000 after acquiring an additional 19,114 shares during the period. Empirical Finance LLC increased its holdings in Wells Fargo & Company by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 127,794 shares of the financial services provider’s stock worth $7,219,000 after acquiring an additional 1,751 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in Wells Fargo & Company by 5.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 21,681 shares of the financial services provider’s stock valued at $1,225,000 after acquiring an additional 1,202 shares during the period. Finally, Connable Office Inc. lifted its stake in shares of Wells Fargo & Company by 0.5% during the 3rd quarter. Connable Office Inc. now owns 64,131 shares of the financial services provider’s stock valued at $3,623,000 after buying an additional 345 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on WFC. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised 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 report on Tuesday, September 3rd. Compass Point boosted their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Piper Sandler increased their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Evercore ISI boosted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Thirteen 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 company’s stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $62.12.

Insider Activity

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the company’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 transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the business’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 sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wells Fargo & Company Stock Up 2.1 %

NYSE:WFC opened at $74.34 on Friday. The firm has a 50-day simple moving average of $61.17 and a two-hundred day simple moving average of $59.30. The firm has a market cap of $247.51 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.52 and a beta of 1.14. Wells Fargo & Company has a fifty-two week low of $41.99 and a fifty-two week high of $74.41. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

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, beating 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 for the quarter, compared to the consensus estimate of $20.40 billion. During the same period last year, the business posted $1.39 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders 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 dividend yield of 2.15%. Wells Fargo & Company’s dividend payout ratio is presently 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.