Unison Asset Management LLC Sells 162 Shares of Wells Fargo & Company (NYSE:WFC)

Unison Asset Management LLC lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,241 shares of the financial services provider’s stock after selling 162 shares during the quarter. Wells Fargo & Company accounts for about 2.8% of Unison Asset Management LLC’s investment portfolio, making the stock its 17th biggest holding. Unison Asset Management LLC’s holdings in Wells Fargo & Company were worth $5,832,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of WFC. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the second quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the second quarter valued at $26,000. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the third quarter valued at $29,000. MidAtlantic Capital Management Inc. purchased a new stake in Wells Fargo & Company during the third quarter valued at $34,000. Finally, Valued Wealth Advisors LLC increased its position in Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Evercore ISI upped their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and dropped their price objective for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Compass Point upped their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley dropped their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $63.07.

Wells Fargo & Company Trading Up 1.2 %

Shares of NYSE WFC opened at $76.88 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50 day moving average price is $63.28 and its 200-day moving average price is $59.80. Wells Fargo & Company has a fifty-two week low of $42.52 and a fifty-two week high of $76.88. The company has a market cap of $255.97 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.58 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $20.40 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. Wells Fargo & Company’s revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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 of this dividend 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%.

Insider Transactions at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ather Williams III sold 60,000 shares of the firm’s 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. This trade represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

About Wells Fargo & Company

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.