NatWest Group plc Has $6.18 Million Stake in Wells Fargo & Company (NYSE:WFC)

NatWest Group plc lessened its position in Wells Fargo & Company (NYSE:WFC) by 21.0% in the third quarter, Holdings Channel.com reports. The firm owned 109,382 shares of the financial services provider’s stock after selling 29,116 shares during the quarter. Wells Fargo & Company comprises 1.8% of NatWest Group plc’s portfolio, making the stock its 25th biggest holding. NatWest Group plc’s holdings in Wells Fargo & Company were worth $6,179,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Marshall Wace LLP increased its stake in shares of Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after buying an additional 2,404,898 shares during the period. 1832 Asset Management L.P. increased its position in Wells Fargo & Company by 67.1% in the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after acquiring an additional 2,349,595 shares during the period. Rokos Capital Management LLP raised its stake in shares of Wells Fargo & Company by 141.6% during the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after acquiring an additional 1,536,152 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Wells Fargo & Company by 38.1% during the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after acquiring an additional 1,415,647 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of Wells Fargo & Company by 378.5% during the first quarter. UniSuper Management Pty Ltd now owns 1,198,987 shares of the financial services provider’s stock worth $69,493,000 after purchasing an additional 948,422 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and reduced their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Keefe, Bruyette & Woods lowered their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. Finally, 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 research report on Tuesday, September 3rd. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $61.82.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $64.38 on Friday. The stock has a market cap of $224.45 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.46 and a beta of 1.16. 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 has a fifty-two week low of $38.58 and a fifty-two week high of $64.71. The firm’s 50-day simple moving average is $56.27 and its 200 day simple moving average is $57.94.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. As a group, research analysts anticipate that Wells Fargo & Company will post 5.12 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

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

Insiders Place Their Bets

In other news, EVP Ather Williams III sold 60,000 shares of the 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 completion of the sale, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Beurden Saul Van sold 35,000 shares of the firm’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 owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & 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.