Aaron Wealth Advisors LLC Purchases 3,466 Shares of Wells Fargo & Company (NYSE:WFC)

Aaron Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 24.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,766 shares of the financial services provider’s stock after acquiring an additional 3,466 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $1,004,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company during the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $26,000. Valued Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares during the last quarter. J.Safra Asset Management Corp lifted its holdings in Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the period. Finally, Fairscale Capital LLC bought a new position in Wells Fargo & Company in the second quarter valued at approximately $47,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, September 3rd. BMO Capital Markets raised their target price 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. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and lowered their price target for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Thirteen 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 stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $61.82.

Insider Activity

In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $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 can be accessed through this hyperlink. In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated 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 of the company’s stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly 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 corporate insiders.

Wells Fargo & Company Stock Down 0.1 %

WFC stock traded down $0.07 during trading hours on Friday, reaching $64.31. 3,553,604 shares of the stock were exchanged, compared to its average volume of 17,991,740. The firm’s 50-day moving average is $56.27 and its 200-day moving average is $57.94. Wells Fargo & Company has a 12 month low of $38.58 and a 12 month high of $64.71. The company has a market cap of $224.20 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 current ratio of 0.86 and a quick ratio of 0.85.

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, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. Wells Fargo & Company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts expect that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

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

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.