Claro Advisors LLC Has $910,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Claro Advisors LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 15.6% during the third quarter, Holdings Channel reports. The institutional investor owned 16,109 shares of the financial services provider’s stock after purchasing an additional 2,173 shares during the period. Claro Advisors LLC’s holdings in Wells Fargo & Company were worth $910,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Income Research & Management acquired a new position in Wells Fargo & Company during the 3rd quarter worth approximately $211,000. Mattson Financial Services LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the second quarter worth approximately $26,000. Valued Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter worth approximately $47,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the subject of several analyst reports. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group lowered 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. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.12.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the 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 sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $74.34 on Monday. The stock has a fifty day simple moving average of $61.17 and a two-hundred day simple moving average of $59.30. Wells Fargo & Company has a 1-year low of $41.99 and a 1-year high of $74.41. The firm has a market cap of $247.51 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

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, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. Wells Fargo & Company’s dividend 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.