Algert Global LLC Buys Shares of 70,478 Wells Fargo & Company (NYSE:WFC)

Algert Global LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 70,478 shares of the financial services provider’s stock, valued at approximately $3,981,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WFC. Canoe Financial LP bought a new stake in Wells Fargo & Company in the third quarter valued at approximately $160,529,000. Marshall Wace LLP grew its holdings in shares of Wells Fargo & Company by 3,295.6% in the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after buying an additional 2,404,898 shares during the period. Rokos Capital Management LLP increased its position in shares of Wells Fargo & Company by 141.6% in the 1st quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after buying an additional 1,536,152 shares in the last quarter. National Pension Service raised its stake in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Wells Fargo & Company by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after acquiring an additional 831,975 shares during the period. 75.90% of the stock is owned by institutional investors.

Insider Transactions at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction 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 approximately $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WFC. Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. 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 research note on Wednesday, October 30th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Compass Point boosted their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Finally, 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 report on Monday, September 30th. 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.07.

Wells Fargo & Company Price Performance

Shares of WFC opened at $76.88 on Tuesday. 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 company’s fifty day simple moving average is $63.74 and its 200 day simple moving average is $59.91. Wells Fargo & Company has a 1-year low of $42.52 and a 1-year high of $77.31. The company has a market cap of $255.97 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.58 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the business earned $1.39 EPS. Wells Fargo & Company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. Wells Fargo & Company’s payout ratio is 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.