Prestige Wealth Management Group LLC Has $91,000 Position in Wells Fargo & Company (NYSE:WFC)

Prestige Wealth Management Group LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 84.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,604 shares of the financial services provider’s stock after selling 9,050 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Wells Fargo & Company were worth $91,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Investors Research Corp increased its stake in shares of Wells Fargo & Company by 1.2% in the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after buying an additional 160 shares during the period. Ellenbecker Investment Group increased 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 position in shares of Wells Fargo & Company in the third quarter valued at approximately $211,000. Modera Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after buying an additional 167 shares during the period. Finally, Catalina Capital Group LLC increased its stake in shares of Wells Fargo & Company by 1.7% in the third quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider’s stock valued at $558,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $72.05 on Wednesday. Wells Fargo & Company has a 52-week low of $45.57 and a 52-week high of $78.13. The stock’s 50 day moving average price is $67.71 and its two-hundred day moving average price is $60.88. 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 stock has a market capitalization of $239.89 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 1.55 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the business earned $1.39 EPS. Wells Fargo & Company’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Insider Buying and Selling

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 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 directly owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Compass Point upped their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday. UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.49.

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.