Wallace Advisory Group LLC Sells 1,104 Shares of Wells Fargo & Company (NYSE:WFC)

Wallace Advisory Group LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,948 shares of the financial services provider’s stock after selling 1,104 shares during the period. Wallace Advisory Group LLC’s holdings in Wells Fargo & Company were worth $1,190,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new position in Wells Fargo & Company during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company during the 2nd quarter valued at about $26,000. Truvestments Capital LLC bought a new position in Wells Fargo & Company during the 3rd quarter valued at about $29,000. Modus Advisors LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at about $30,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Wells Fargo & Company during the 3rd quarter valued at about $34,000. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on WFC. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. 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. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.92.

Insider Activity at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the company’s 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 completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Up 0.9 %

Shares of NYSE WFC opened at $70.59 on Tuesday. The stock has a market cap of $235.03 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.47 and a beta of 1.18. The firm has a 50 day moving average price of $72.27 and a 200 day moving average price of $63.07. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The firm 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 for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.39 earnings per share. Analysts expect that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

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.