Prudent Man Advisors LLC Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Prudent Man Advisors LLC lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 2.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 20,536 shares of the financial services provider’s stock after selling 437 shares during the period. Prudent Man Advisors LLC’s holdings in Wells Fargo & Company were worth $1,160,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Trustmark National Bank Trust Department lifted its holdings in Wells Fargo & Company by 5.9% in the 1st quarter. Trustmark National Bank Trust Department now owns 5,807 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 324 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new position in shares of Wells Fargo & Company in the first quarter worth $3,060,000. Lake Street Advisors Group LLC boosted its position in shares of Wells Fargo & Company by 98.9% during the first quarter. Lake Street Advisors Group LLC now owns 24,921 shares of the financial services provider’s stock worth $1,444,000 after acquiring an additional 12,394 shares during the last quarter. Oxford Financial Group LTD. LLC grew its stake in Wells Fargo & Company by 7.4% during the first quarter. Oxford Financial Group LTD. LLC now owns 5,115 shares of the financial services provider’s stock valued at $296,000 after acquiring an additional 354 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Wells Fargo & Company by 76.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,679,000 shares of the financial services provider’s stock valued at $97,315,000 after acquiring an additional 730,000 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 2.1 %

Shares of Wells Fargo & Company stock opened at $74.34 on Monday. 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 stock has a market cap of $247.51 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.55 and a beta of 1.14. The firm’s 50-day moving average is $61.17 and its two-hundred day moving average is $59.30. Wells Fargo & Company has a 1 year low of $41.99 and a 1 year high of $74.41.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion during the quarter, compared to analyst estimates 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 was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 earnings per share. As a group, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

Insider Buying and Selling at Wells Fargo & Company

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 shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 26.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the 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 sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $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 insiders.

Analyst Upgrades and Downgrades

WFC has been the subject of several research reports. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Compass Point raised their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and reduced their price target for the stock from $62.00 to $59.00 in a research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.12.

Wells Fargo & Company 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.