Portside Wealth Group LLC Has $3.22 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Portside Wealth Group LLC decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,054 shares of the financial services provider’s stock after selling 3,022 shares during the period. Portside Wealth Group LLC’s holdings in Wells Fargo & Company were worth $3,223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Consolidated Planning Corp boosted its position in Wells Fargo & Company by 12.9% during the 3rd quarter. Consolidated Planning Corp now owns 4,449 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 507 shares during the last quarter. Olstein Capital Management L.P. grew its position in Wells Fargo & Company by 2.5% in the third quarter. Olstein Capital Management L.P. now owns 124,000 shares of the financial services provider’s stock valued at $7,005,000 after purchasing an additional 3,000 shares in the last quarter. Olympiad Research LP boosted its stake in shares of Wells Fargo & Company by 66.5% during the 3rd quarter. Olympiad Research LP now owns 6,212 shares of the financial services provider’s stock worth $351,000 after buying an additional 2,480 shares during the last quarter. WoodTrust Financial Corp increased its position in shares of Wells Fargo & Company by 21.2% in the third quarter. WoodTrust Financial Corp now owns 5,996 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 1,049 shares during the last quarter. Finally, M&G PLC raised its holdings in Wells Fargo & Company by 31.8% during the third quarter. M&G PLC now owns 755,930 shares of the financial services provider’s stock worth $42,332,000 after acquiring an additional 182,274 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and decreased their price target for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Evercore ISI boosted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.12.

Insider Buying and Selling

In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. 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 stock in a transaction on Monday, October 14th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ather Williams III sold 60,000 shares of the company’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 transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $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. 0.08% of the stock is owned by insiders.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $69.79 on Friday. Wells Fargo & Company has a 52 week low of $40.27 and a 52 week high of $74.27. 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 business has a 50 day moving average price of $59.11 and a 200-day moving average price of $58.72. The company 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 announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS 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 company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

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.