Empirical Finance LLC Purchases 1,751 Shares of Wells Fargo & Company (NYSE:WFC)

Empirical Finance LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 127,794 shares of the financial services provider’s stock after purchasing an additional 1,751 shares during the period. Empirical Finance LLC’s holdings in Wells Fargo & Company were worth $7,219,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Income Research & Management acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $211,000. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $26,000. Valued Wealth Advisors LLC boosted its position in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the last quarter. Finally, Fairscale Capital LLC bought a new position in Wells Fargo & Company during the 2nd quarter worth approximately $47,000. Institutional investors own 75.90% of the company’s stock.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the business’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 sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. The trade was a 26.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Down 0.2 %

Shares of NYSE:WFC opened at $72.65 on Friday. The firm has a market cap of $241.89 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.52 and a beta of 1.14. Wells Fargo & Company has a 12-month low of $41.99 and a 12-month high of $74.27. The business has a fifty day simple moving average of $60.45 and a 200 day simple moving average of $59.11. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 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 analyst estimates of $20.40 billion. During the same period in the previous year, the firm earned $1.39 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. 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 will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Analyst Ratings Changes

Several equities research analysts have commented on WFC shares. Deutsche Bank Aktiengesellschaft raised shares of 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. Compass Point raised their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and decreased their price objective for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $62.12.

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.