Wells Fargo & Company (NYSE:WFC) Shares Acquired by Good Life Advisors LLC

Good Life Advisors LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,797 shares of the financial services provider’s stock after buying an additional 637 shares during the period. Good Life Advisors LLC’s holdings in Wells Fargo & Company were worth $666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. nVerses Capital LLC boosted its holdings in shares of Wells Fargo & Company by 46.3% in the third quarter. nVerses Capital LLC now owns 18,000 shares of the financial services provider’s stock valued at $1,017,000 after acquiring an additional 5,700 shares in the last quarter. One Wealth Advisors LLC lifted its position in Wells Fargo & Company by 1.3% in the third quarter. One Wealth Advisors LLC now owns 25,213 shares of the financial services provider’s stock worth $1,424,000 after purchasing an additional 329 shares during the period. Mezzasalma Advisors LLC boosted its stake in Wells Fargo & Company by 6.9% during the 3rd quarter. Mezzasalma Advisors LLC now owns 4,562 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 295 shares in the last quarter. Hengehold Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $260,000. Finally, Alliance Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 2.0% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 10,505 shares of the financial services provider’s stock worth $593,000 after buying an additional 210 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on WFC. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $60.83 to $65.00 in a report on Tuesday. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Morgan Stanley reduced their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. The Goldman Sachs Group dropped their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, BMO Capital Markets raised their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $61.82.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $64.37 on Friday. The firm has a market cap of $224.41 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $64.78. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The business has a fifty day simple moving average of $56.50 and a 200 day simple moving average of $57.99.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $1.39 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.12 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.49%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s payout ratio is currently 32.85%.

Insider Transactions at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction that occurred 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 directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

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.