Mount Yale Investment Advisors LLC Has $1.86 Million Position in Wells Fargo & Company (NYSE:WFC)

Mount Yale Investment Advisors LLC lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 14.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,982 shares of the financial services provider’s stock after selling 5,689 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $1,863,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. DT Investment Partners LLC grew its stake in Wells Fargo & Company by 9.3% during the 3rd quarter. DT Investment Partners LLC now owns 3,851 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 327 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Wells Fargo & Company by 8.3% during the third quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock worth $5,446,000 after purchasing an additional 7,415 shares during the period. Impact Partnership Wealth LLC purchased a new position in Wells Fargo & Company during the third quarter valued at approximately $984,000. Grimes & Company Inc. boosted its stake in shares of Wells Fargo & Company by 3.1% during the 3rd quarter. Grimes & Company Inc. now owns 31,678 shares of the financial services provider’s stock valued at $1,789,000 after buying an additional 949 shares during the period. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $637,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $65.43 on Friday. The business’s fifty day moving average is $57.20 and its two-hundred day moving average is $58.15. 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 firm has a market cap of $222.71 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $65.57.

Wells Fargo & Company (NYSE:WFC) last announced its 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. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders 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 yield of 2.45%. Wells Fargo & Company’s payout ratio is 33.26%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of research reports. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Evercore ISI raised their price target on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, October 14th. The Goldman Sachs Group lowered their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Wolfe Research raised 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. Finally, Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and lowered their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Thirteen 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.82.

Insider Transactions 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 sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, 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 transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This trade represents a 0.00 % 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 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.