Wells Fargo & Company (NYSE:WFC) Shares Bought by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 23,205 shares of the financial services provider’s stock after buying an additional 487 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Wells Fargo & Company were worth $1,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canoe Financial LP acquired a new position in Wells Fargo & Company in the third quarter valued at $160,529,000. Marshall Wace LLP boosted its position in shares of 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. Rokos Capital Management LLP grew its stake in Wells Fargo & Company by 141.6% during the 1st quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after buying an additional 1,536,152 shares during the last quarter. National Pension Service increased its position in Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Wells Fargo & Company by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after buying an additional 831,975 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated 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 transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were 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 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wells Fargo & Company Stock Up 1.2 %

Shares of NYSE WFC opened at $76.88 on Tuesday. The stock has a market capitalization of $255.97 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.58 and a beta of 1.14. Wells Fargo & Company has a 52 week low of $42.52 and a 52 week high of $77.31. The firm has a 50-day moving average price of $63.74 and a 200 day moving average price of $59.91. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. Equities research analysts anticipate that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.08%. Wells Fargo & Company’s payout ratio is 33.26%.

Wall Street Analyst Weigh In

WFC has been the topic of a number of research reports. Compass Point raised their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised shares of 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. Evercore ISI raised their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their price target 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Thirteen investment 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 stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $63.07.

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.