Continuum Advisory LLC Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Continuum Advisory LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,527 shares of the financial services provider’s stock after buying an additional 424 shares during the period. Continuum Advisory LLC’s holdings in Wells Fargo & Company were worth $877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Income Research & Management purchased a new stake in Wells Fargo & Company during the 3rd quarter worth about $211,000. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company during the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the 2nd quarter worth about $26,000. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $29,000. Finally, FSA Wealth Management LLC purchased a new stake in Wells Fargo & Company in the third quarter worth approximately $34,000. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WFC. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Citigroup increased their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $65.47.

Insider Activity

In other news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was 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 owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 26.83 % 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 Down 2.3 %

Shares of NYSE WFC opened at $72.62 on Tuesday. Wells Fargo & Company has a 1 year low of $45.57 and a 1 year high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50-day moving average of $67.71 and a 200 day moving average of $60.88. The stock has a market cap of $241.79 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $1.39 earnings per share. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. Wells Fargo & Company’s dividend payout ratio is currently 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.