Wells Fargo & Company (NYSE:WFC) Stock Holdings Lifted by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its position in Wells Fargo & Company (NYSE:WFC) by 12.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 97,809 shares of the financial services provider’s stock after acquiring an additional 11,054 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Wells Fargo & Company were worth $5,525,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ellenbecker Investment Group boosted its position in Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after buying an additional 164 shares during the last quarter. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter valued at $211,000. Modera Wealth Management LLC lifted its stake in shares of Wells Fargo & Company by 0.9% during the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 167 shares during the period. John W. Brooker & Co. CPAs boosted its holdings in Wells Fargo & Company by 2.5% in the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 171 shares during the last quarter. Finally, McAdam LLC increased its position in Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded up $0.68 on Wednesday, reaching $65.98. The stock had a trading volume of 6,255,258 shares, compared to its average volume of 17,995,371. The firm’s 50-day moving average is $57.96 and its two-hundred day moving average is $58.39. Wells Fargo & Company has a 12 month low of $39.24 and a 12 month high of $66.39. The firm has a market capitalization of $224.58 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 1.46 and a beta of 1.16. 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 released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating 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 net margin of 14.43% and a return on equity of 12.25%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 earnings per share. On average, research analysts expect that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.42%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Analyst Ratings Changes

A number of research firms have issued reports on WFC. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Morgan Stanley lowered their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Compass Point upped 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. Finally, Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and cut their price objective for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Thirteen 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $62.12.

Insider Transactions at Wells Fargo & Company

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 transaction of $2,169,650.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

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.