Ghe LLC Reduces Stake in Wells Fargo & Company (NYSE:WFC)

Ghe LLC trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 67.3% in the third quarter, HoldingsChannel.com reports. The firm owned 2,518 shares of the financial services provider’s stock after selling 5,185 shares during the quarter. Ghe LLC’s holdings in Wells Fargo & Company were worth $142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the second quarter worth about $26,000. Valued Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 220 shares during the period. J.Safra Asset Management Corp grew its holdings in shares of Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares during the period. Finally, Fairscale Capital LLC purchased a new position in shares of Wells Fargo & Company in the second quarter valued at $47,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC traded up $0.56 on Wednesday, hitting $73.16. 772,152 shares of the company’s stock were exchanged, compared to its average volume of 18,061,387. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average of $60.15 and a two-hundred day moving average of $59.01. The firm has a market cap of $243.59 billion, a PE ratio of 15.09, a P/E/G ratio of 1.63 and a beta of 1.14. Wells Fargo & Company has a twelve month low of $41.46 and a twelve month high of $74.27.

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 (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.39 earnings per share. On average, research analysts anticipate that Wells Fargo & Company will post 5.39 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WFC. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and reduced their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Morgan Stanley decreased their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Finally, Compass Point lifted their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.12.

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.