B. Metzler seel. Sohn & Co. AG Increases Stake in Wells Fargo & Company $WFC

B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Wells Fargo & Company (NYSE:WFCFree Report) by 43.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 177,587 shares of the financial services provider’s stock after buying an additional 54,070 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Wells Fargo & Company were worth $14,885,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Main Street Group LTD increased its position in shares of Wells Fargo & Company by 36.9% in the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 118 shares during the period. D Orazio & Associates Inc. lifted its position in Wells Fargo & Company by 3.6% during the third quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 118 shares during the period. Stonebrook Private Inc. lifted its position in Wells Fargo & Company by 2.7% during the third quarter. Stonebrook Private Inc. now owns 4,511 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 118 shares during the period. Hidden Cove Wealth Management LLC grew its stake in Wells Fargo & Company by 2.0% during the third quarter. Hidden Cove Wealth Management LLC now owns 5,948 shares of the financial services provider’s stock worth $499,000 after buying an additional 119 shares in the last quarter. Finally, Weaver Consulting Group grew its stake in Wells Fargo & Company by 1.6% during the third quarter. Weaver Consulting Group now owns 7,441 shares of the financial services provider’s stock worth $624,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Bridget E. Engle sold 30,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the transaction, the executive vice president directly owned 83,478 shares in the company, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.40, for a total value of $5,244,000.00. Following the sale, the executive vice president directly owned 169,496 shares in the company, valued at $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 115,000 shares of company stock worth $10,050,000. 0.08% of the stock is currently owned by insiders.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $80.44 on Friday. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $248.21 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.88 and a beta of 1.08. The company’s 50 day moving average price is $89.46 and its two-hundred day moving average price is $86.60.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company had revenue of $21.29 billion during the quarter, compared to the consensus estimate of $21.63 billion. During the same period in the prior year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Friday, February 6th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WFC. Robert W. Baird upgraded shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price for the company in a research report on Friday, February 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. HSBC restated a “hold” rating and set a $74.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Finally, UBS Group restated a “buy” rating and set a $113.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, February 4th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Read Our Latest Stock Analysis on Wells Fargo & Company

Key Wells Fargo & Company News

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About Wells Fargo & Company

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

See Also

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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