Aljian Capital Management LLC Buys Shares of 9,075 Wells Fargo & Company (NYSE:WFC)

Aljian Capital Management LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,075 shares of the financial services provider’s stock, valued at approximately $513,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Trustmark National Bank Trust Department increased its position in shares of Wells Fargo & Company by 5.9% during the first quarter. Trustmark National Bank Trust Department now owns 5,807 shares of the financial services provider’s stock worth $337,000 after acquiring an additional 324 shares during the period. Capitolis Liquid Global Markets LLC acquired a new stake in Wells Fargo & Company in the 1st quarter valued at about $3,060,000. Lake Street Advisors Group LLC boosted its stake in shares of Wells Fargo & Company by 98.9% in the 1st quarter. Lake Street Advisors Group LLC now owns 24,921 shares of the financial services provider’s stock valued at $1,444,000 after buying an additional 12,394 shares during the period. Oxford Financial Group LTD. LLC grew its position in shares of Wells Fargo & Company by 7.4% during the first quarter. Oxford Financial Group LTD. LLC now owns 5,115 shares of the financial services provider’s stock worth $296,000 after buying an additional 354 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Wells Fargo & Company by 76.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,679,000 shares of the financial services provider’s stock worth $97,315,000 after buying an additional 730,000 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 2.1 %

Shares of WFC stock opened at $74.34 on Monday. The company has a market capitalization of $247.51 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. 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 business’s 50 day moving average is $61.17 and its two-hundred day moving average is $59.30. Wells Fargo & Company has a twelve month low of $41.99 and a twelve month high of $74.41.

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, beating analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. Wells Fargo & Company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.39 EPS. Equities analysts forecast that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Insider Buying and Selling at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred 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 sale, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ather Williams III sold 60,000 shares of the 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 of the company’s stock, valued at $10,421,957. The trade was 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.

Analysts Set New Price Targets

WFC has been the subject of several analyst reports. The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Compass Point increased their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Morgan Stanley lowered their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Thirteen research 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.