Oliver Luxxe Assets LLC Sells 230 Shares of Wells Fargo & Company (NYSE:WFC)

Oliver Luxxe Assets LLC lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,672 shares of the financial services provider’s stock after selling 230 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Wells Fargo & Company were worth $398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Investors Research Corp grew its position in shares of Wells Fargo & Company by 1.2% during the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 160 shares in the last quarter. Ellenbecker Investment Group boosted its stake in shares of Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after buying an additional 164 shares during the period. Income Research & Management acquired a new stake in Wells Fargo & Company during the third quarter worth approximately $211,000. Modera Wealth Management LLC increased its stake in Wells Fargo & Company by 0.9% during the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after acquiring an additional 167 shares during the period. Finally, Catalina Capital Group LLC grew its holdings in shares of Wells Fargo & Company by 1.7% during the 3rd quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider’s stock worth $558,000 after purchasing an additional 168 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WFC shares. Citigroup increased their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Evercore ISI raised their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $68.63.

Wells Fargo & Company Trading Up 1.0 %

NYSE WFC opened at $72.00 on Tuesday. The firm has a market capitalization of $239.72 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The business’s 50-day moving average price is $71.64 and its two-hundred day moving average price is $62.60. 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 $46.12 and a 12 month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating 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 business had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the prior year, the business posted $1.39 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Insider Activity at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 26.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is 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.