Great Valley Advisor Group Inc. Grows Stake in Wells Fargo & Company (NYSE:WFC)

Great Valley Advisor Group Inc. grew its holdings in Wells Fargo & Company (NYSE:WFC) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,205 shares of the financial services provider’s stock after acquiring an additional 487 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Wells Fargo & Company were worth $1,311,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WFC. B. Riley Wealth Advisors Inc. boosted its position in Wells Fargo & Company by 22.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 67,346 shares of the financial services provider’s stock valued at $3,903,000 after buying an additional 12,473 shares during the last quarter. Tidal Investments LLC boosted its holdings in Wells Fargo & Company by 20.8% during the first quarter. Tidal Investments LLC now owns 88,063 shares of the financial services provider’s stock worth $5,103,000 after buying an additional 15,139 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new position in Wells Fargo & Company in the first quarter valued at $2,773,000. Beacon Capital Management LLC raised its position in shares of Wells Fargo & Company by 18.2% in the first quarter. Beacon Capital Management LLC now owns 1,316 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 203 shares during the period. Finally, Western Pacific Wealth Management LP boosted its stake in shares of Wells Fargo & Company by 20.2% during the 1st quarter. Western Pacific Wealth Management LP now owns 8,734 shares of the financial services provider’s stock worth $506,000 after acquiring an additional 1,467 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.2 %

Shares of NYSE:WFC opened at $76.88 on Tuesday. Wells Fargo & Company has a 12-month low of $42.52 and a 12-month high of $77.31. The company has a market capitalization of $255.97 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.58 and a beta of 1.14. The business has a 50-day moving average price of $63.74 and a 200 day moving average price of $59.91. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results 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. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the previous year, the company earned $1.39 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts expect that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction 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 approximately $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction 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 of the company’s stock, valued at approximately $10,421,957. This trade 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.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WFC. The Goldman Sachs Group dropped their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Compass Point raised their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Piper Sandler boosted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.07.

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.