Optimum Investment Advisors Sells 200 Shares of Wells Fargo & Company (NYSE:WFC)

Optimum Investment Advisors decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 15.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,076 shares of the financial services provider’s stock after selling 200 shares during the quarter. Optimum Investment Advisors’ holdings in Wells Fargo & Company were worth $61,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Marshall Wace LLP lifted its position in Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after purchasing an additional 2,404,898 shares during the period. 1832 Asset Management L.P. increased its stake in Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after acquiring an additional 2,349,595 shares during the period. Rokos Capital Management LLP raised its position in Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after purchasing an additional 1,536,152 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Wells Fargo & Company by 38.1% during the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after purchasing an additional 1,415,647 shares during the period. Finally, UniSuper Management Pty Ltd boosted its holdings in Wells Fargo & Company by 378.5% during the first quarter. UniSuper Management Pty Ltd now owns 1,198,987 shares of the financial services provider’s stock valued at $69,493,000 after purchasing an additional 948,422 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.0 %

Shares of NYSE:WFC opened at $64.37 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The stock 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. The company has a 50 day moving average of $56.50 and a 200-day moving average of $57.99. Wells Fargo & Company has a one year low of $38.58 and a one year high of $64.78.

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

Wells Fargo & Company Increases Dividend

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

Insider Activity at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated 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 $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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 $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 corporate insiders.

Analyst Ratings Changes

WFC has been the subject of several analyst reports. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the stock from $60.83 to $65.00 in a research report on Tuesday. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. The Goldman Sachs Group dropped their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.82.

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.