Diversify Wealth Management LLC Sells 837 Shares of Wells Fargo & Company (NYSE:WFC)

Diversify Wealth Management LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,405 shares of the financial services provider’s stock after selling 837 shares during the quarter. Diversify Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,322,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company in the second quarter worth about $26,000. Valued Wealth Advisors LLC lifted 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 buying an additional 220 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new position in Wells Fargo & Company during the 2nd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on WFC shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. BMO Capital Markets increased their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Compass Point lifted their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $62.12.

Wells Fargo & Company Trading Up 0.2 %

Shares of NYSE:WFC opened at $65.41 on Thursday. The company has a market capitalization of $222.64 billion, a PE ratio of 13.60, a P/E/G ratio of 1.46 and a beta of 1.16. 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 $39.24 and a 12-month high of $66.39. The business’s fifty day simple moving average is $58.16 and its 200-day simple moving average is $58.44.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. The company had revenue of $20.37 billion for 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%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 earnings per share. As a group, equities research analysts predict that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced 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. 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 2.45%. Wells Fargo & Company’s payout ratio is 33.26%.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the company’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 transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

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.