Larson Financial Group LLC Has $346,000 Position in Wells Fargo & Company (NYSE:WFC)

Larson Financial Group LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 21.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,129 shares of the financial services provider’s stock after buying an additional 1,097 shares during the quarter. Larson Financial Group LLC’s holdings in Wells Fargo & Company were worth $346,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of WFC. Income Research & Management acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $211,000. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new stake in Wells Fargo & Company during the 3rd quarter worth about $34,000. Finally, Valued Wealth Advisors LLC boosted its stake in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and lowered their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Evercore ISI upped their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup increased 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. Morgan Stanley lowered their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $63.07.

Insiders Place Their Bets

In other news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $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 accessible through this link. Also, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $77.31 on Wednesday. The company has a market capitalization of $257.40 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.58 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. Wells Fargo & Company has a 12 month low of $42.52 and a 12 month high of $78.13. The stock’s 50 day moving average is $64.20 and its 200-day moving average is $60.01.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 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 firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the prior year, the firm posted $1.39 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend 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.