Wells Fargo & Company (NYSE:WFC) Shares Bought by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 44.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,544 shares of the financial services provider’s stock after purchasing an additional 2,940 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Wells Fargo & Company were worth $540,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Avestar Capital LLC lifted its stake in Wells Fargo & Company by 3.2% during the third quarter. Avestar Capital LLC now owns 38,051 shares of the financial services provider’s stock worth $2,150,000 after purchasing an additional 1,180 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Wells Fargo & Company by 8.7% during the third quarter. Brooklyn Investment Group now owns 22,218 shares of the financial services provider’s stock worth $1,255,000 after acquiring an additional 1,776 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Wells Fargo & Company during the third quarter worth $10,099,000. Capital Square LLC increased its position in shares of Wells Fargo & Company by 4.1% during the third quarter. Capital Square LLC now owns 4,577 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 179 shares during the period. Finally, Acorn Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter worth $240,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WFC shares. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Piper Sandler upped their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $63.07.

Insider Transactions at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, 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. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Trading Up 0.5 %

Shares of Wells Fargo & Company stock opened at $77.31 on Wednesday. Wells Fargo & Company has a 12-month low of $42.52 and a 12-month high of $78.13. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market cap of $257.40 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. The company has a 50-day moving average of $64.20 and a two-hundred day moving average of $60.01.

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, beating analysts’ consensus estimates 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 company had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the company posted $1.39 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, research analysts anticipate that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Wells Fargo & Company Company Profile

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.