Wells Fargo & Company (NYSE:WFC) Shares Purchased by Focus Financial Network Inc.

Focus Financial Network Inc. boosted its stake in Wells Fargo & Company (NYSE:WFC) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,812 shares of the financial services provider’s stock after acquiring an additional 757 shares during the period. Focus Financial Network Inc.’s holdings in Wells Fargo & Company were worth $3,379,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 directly owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 directly owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Down 0.4 %

WFC opened at $64.68 on Friday. Wells Fargo & Company has a one year low of $39.39 and a one year high of $66.39. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s fifty day moving average is $58.50 and its 200-day moving average is $58.54. The company has a market capitalization of $220.16 billion, a PE ratio of 13.45, a P/E/G ratio of 1.48 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The company 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 company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Wall Street Analyst Weigh In

Several analysts have weighed in on WFC shares. Keefe, Bruyette & Woods lowered their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. The Goldman Sachs Group dropped their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, 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 research report on Tuesday, September 3rd. 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. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $62.12.

Wells Fargo & Company 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.