AIA Group Ltd Has $3.87 Million Position in Wells Fargo & Company (NYSE:WFC)

AIA Group Ltd lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 68,519 shares of the financial services provider’s stock after selling 3,180 shares during the period. AIA Group Ltd’s holdings in Wells Fargo & Company were worth $3,871,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Canoe Financial LP bought a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $160,529,000. Marshall Wace LLP boosted its holdings in Wells Fargo & Company by 3,295.6% in 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 purchasing an additional 2,404,898 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after purchasing an additional 2,349,595 shares during the period. Rokos Capital Management LLP raised its position 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 buying an additional 1,536,152 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in 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 worth $297,411,000 after buying an additional 1,415,647 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have 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 on the stock in a report on Wednesday, September 11th. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, Compass Point upped their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.12.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $69.79 on Friday. The business has a fifty day moving average of $59.11 and a 200-day moving average of $58.72. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a twelve month low of $40.27 and a twelve month high of $74.27. The firm has a market cap of $232.37 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. 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 posted $1.39 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is 33.26%.

Insider Buying and Selling at Wells Fargo & Company

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

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.