Wells Fargo & Company $WFC Shares Bought by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 4,185.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,971 shares of the financial services provider’s stock after purchasing an additional 7,785 shares during the period. Contravisory Investment Management Inc.’s holdings in Wells Fargo & Company were worth $743,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WFC. Hilton Capital Management LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter valued at about $3,656,000. Mawer Investment Management Ltd. purchased a new stake in shares of Wells Fargo & Company during the third quarter worth about $147,165,000. Guerra Advisors Inc lifted its stake in shares of Wells Fargo & Company by 43.2% in the third quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider’s stock worth $3,222,000 after acquiring an additional 11,594 shares in the last quarter. AlphaQuest LLC boosted its holdings in Wells Fargo & Company by 1,121.0% in the third quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider’s stock valued at $2,018,000 after purchasing an additional 22,107 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Wells Fargo & Company by 52.7% in the third quarter. UMB Bank n.a. now owns 138,862 shares of the financial services provider’s stock valued at $11,639,000 after purchasing an additional 47,946 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.9%

WFC stock opened at $78.27 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76. The firm has a fifty day moving average price of $85.45 and a two-hundred day moving average price of $86.32. The firm has a market cap of $241.53 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 0.85 and a beta of 1.08.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $21.63 billion. During the same period last year, the firm posted $1.43 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Friday, February 6th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, February 6th. Wells Fargo & Company’s payout ratio is presently 28.71%.

Wall Street Analyst Weigh In

WFC has been the topic of several analyst reports. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. Argus increased their target price on Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Robert W. Baird raised shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price target for the company in a research report on Friday, February 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Wells Fargo & Company in a report on Thursday, January 15th. Finally, The Goldman Sachs Group reduced their price objective on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday. Thirteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.82.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Kleber Santos sold 25,000 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the sale, the executive vice president directly owned 79,876 shares in the company, valued at approximately $7,006,722.72. This represents a 23.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bridget E. Engle sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the transaction, the executive vice president owned 83,478 shares of the company’s stock, valued at $7,270,933.80. This represents a 26.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 115,000 shares of company stock worth $10,050,000 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Profile

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.