Catalytic Wealth RIA LLC Acquires New Holdings in Wells Fargo & Company (NYSE:WFC)

Catalytic Wealth RIA LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,245 shares of the financial services provider’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WFC. Cozad Asset Management Inc. bought a new stake in shares of Wells Fargo & Company in the 1st quarter valued at about $211,000. Entropy Technologies LP acquired a new stake in Wells Fargo & Company in the first quarter valued at approximately $4,300,000. Koshinski Asset Management Inc. purchased a new position in Wells Fargo & Company in the first quarter worth $577,000. Endowment Wealth Management Inc. acquired a new position in shares of Wells Fargo & Company during the first quarter worth $209,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Wells Fargo & Company by 9.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 4,344,971 shares of the financial services provider’s stock worth $251,835,000 after purchasing an additional 362,530 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Beurden Saul Van sold 35,000 shares of the firm’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 of the company’s stock, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, 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 corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WFC shares. Piper Sandler boosted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley cut their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Thirteen 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. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $62.12.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $72.60 on Tuesday. The business has a 50-day simple moving average of $59.59 and a 200-day simple moving average of $58.83. The company has a market cap of $241.72 billion, a PE ratio of 15.09, a P/E/G ratio of 1.57 and a beta of 1.14. Wells Fargo & Company has a one year low of $40.53 and a one year high of $74.27. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping 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 analyst estimates of $20.40 billion. During the same quarter last year, the company earned $1.39 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 5.39 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.