Blueshift Asset Management LLC Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

Blueshift Asset Management LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,756 shares of the financial services provider’s stock after selling 164 shares during the quarter. Blueshift Asset Management LLC’s holdings in Wells Fargo & Company were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the business. American Trust acquired a new stake in Wells Fargo & Company during the first quarter worth about $217,000. Transcend Capital Advisors LLC lifted its holdings in Wells Fargo & Company by 4.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 52,615 shares of the financial services provider’s stock valued at $3,125,000 after purchasing an additional 2,252 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Wells Fargo & Company by 31.3% in the 2nd quarter. GAMMA Investing LLC now owns 32,494 shares of the financial services provider’s stock valued at $1,930,000 after purchasing an additional 7,753 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Wells Fargo & Company by 16.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 25,364 shares of the financial services provider’s stock worth $1,506,000 after buying an additional 3,608 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its stake in shares of Wells Fargo & Company by 4.3% in the second quarter. Moody National Bank Trust Division now owns 36,693 shares of the financial services provider’s stock worth $2,179,000 after buying an additional 1,518 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on WFC. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Morgan Stanley dropped 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. Piper Sandler lifted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and dropped their price objective for the company from $62.00 to $59.00 in a report on Friday, August 16th. Finally, Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Tuesday, October 8th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $63.07.

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 completion of the sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ather Williams III sold 60,000 shares of the 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 sale, the executive vice president now owns 163,610 shares of the company’s stock, 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.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $76.20 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a fifty-two week low of $43.48 and a fifty-two week high of $78.13. The business has a 50 day moving average price of $65.48 and a two-hundred day moving average price of $60.36. The firm has a market cap of $253.71 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.61 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 for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

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.