Wells Fargo & Company (NYSE:WFC) Stock Holdings Lifted by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,954 shares of the financial services provider’s stock after buying an additional 475 shares during the period. Providence Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $901,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Martingale Asset Management L P increased its holdings in shares of Wells Fargo & Company by 75.5% in the 3rd quarter. Martingale Asset Management L P now owns 7,599 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 3,269 shares during the period. Financial Counselors Inc. increased its stake in Wells Fargo & Company by 2.0% in the 3rd quarter. Financial Counselors Inc. now owns 19,010 shares of the financial services provider’s stock valued at $1,074,000 after buying an additional 373 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Wells Fargo & Company by 81.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock valued at $111,914,000 after buying an additional 889,953 shares during the period. Fiduciary Trust Co grew its holdings in shares of Wells Fargo & Company by 0.9% during the 3rd quarter. Fiduciary Trust Co now owns 45,907 shares of the financial services provider’s stock valued at $2,593,000 after acquiring an additional 397 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Wells Fargo & Company by 14.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock worth $58,055,000 after acquiring an additional 131,322 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WFC. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. The Goldman Sachs Group dropped their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, September 3rd. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.07.

Wells Fargo & Company Stock Down 0.2 %

NYSE WFC opened at $77.21 on Friday. 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 50-day simple moving average of $65.08 and a 200 day simple moving average of $60.25. Wells Fargo & Company has a twelve month low of $42.79 and a twelve month high of $78.13. The stock has a market cap of $257.07 billion, a PE ratio of 16.05, a PEG ratio of 1.61 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was 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 owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate 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.