Wells Fargo & Company (NYSE:WFC) Shares Acquired by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 44.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,544 shares of the financial services provider’s stock after buying an additional 2,940 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Wells Fargo & Company were worth $540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Canoe Financial LP acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $160,529,000. Marshall Wace LLP lifted its holdings in shares of Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after acquiring an additional 2,404,898 shares in the last quarter. Rokos Capital Management LLP lifted its holdings in Wells Fargo & Company by 141.6% in the 1st quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after buying an additional 1,536,152 shares in the last quarter. National Pension Service lifted its holdings in Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Wells Fargo & Company by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after buying an additional 831,975 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Transactions at Wells Fargo & Company

In related news, 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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WFC. Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and cut their price objective for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Compass Point boosted their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Piper Sandler boosted 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 report on Monday, October 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.07.

Wells Fargo & Company Trading Up 0.5 %

Wells Fargo & Company stock opened at $77.31 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $64.20 and a two-hundred day moving average price of $60.01. The firm has a market capitalization of $257.40 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.60 and a beta of 1.14. Wells Fargo & Company has a 52-week low of $42.52 and a 52-week high of $78.13.

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 analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. Wells Fargo & Company’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is currently 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.