Aaron Wealth Advisors LLC Acquires 3,466 Shares of Wells Fargo & Company (NYSE:WFC)

Aaron Wealth Advisors LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 24.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,766 shares of the financial services provider’s stock after acquiring an additional 3,466 shares during the period. Aaron Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $1,004,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WFC. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company during the second quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $26,000. Valued Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 220 shares in the last quarter. J.Safra Asset Management Corp lifted its holdings in Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC bought a new stake in Wells Fargo & Company during the second quarter worth approximately $47,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on WFC. Piper Sandler boosted their price objective 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. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Tuesday, October 8th. Compass Point lifted their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the company from $60.83 to $65.00 in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.82.

Wells Fargo & Company Price Performance

Shares of WFC stock traded down $0.07 during mid-day trading on Friday, reaching $64.31. The company’s stock had a trading volume of 3,553,604 shares, compared to its average volume of 17,991,740. The firm’s 50-day moving average is $56.27 and its two-hundred day moving average is $57.94. The company has a market cap of $224.20 billion, a P/E ratio of 13.22, a PEG ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $38.58 and a 1-year high of $64.71. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the company earned $1.39 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts predict that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.49%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is 32.85%.

Insiders Place Their Bets

In other news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 of the company’s stock, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % 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 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.