Wells Fargo & Company (NYSE:WFC) Shares Sold by Burney Co.

Burney Co. cut its stake in Wells Fargo & Company (NYSE:WFC) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,424 shares of the financial services provider’s stock after selling 2,497 shares during the period. Burney Co.’s holdings in Wells Fargo & Company were worth $2,835,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Barrett & Company Inc. acquired a new position in shares of Wells Fargo & Company in the 1st quarter valued at about $25,000. Studio Investment Management LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the first quarter valued at approximately $28,000. Financial Connections Group Inc. grew its stake in Wells Fargo & Company by 288.0% during the second quarter. Financial Connections Group Inc. now owns 741 shares of the financial services provider’s stock worth $31,000 after buying an additional 550 shares during the period. Finally, Worth Asset Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter worth $40,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of a number of research reports. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 1st. BMO Capital Markets raised their target price on Wells Fargo & Company from $52.00 to $54.00 and gave the company a “market perform” rating in a report on Monday, October 16th. StockNews.com began coverage on Wells Fargo & Company in a report on Thursday, October 5th. They issued a “hold” rating for the company. HSBC assumed coverage on shares of Wells Fargo & Company in a research note on Thursday, September 7th. They set a “hold” rating and a $45.00 price objective on the stock. Finally, Jefferies Financial Group lowered their price target on shares of Wells Fargo & Company from $48.00 to $43.00 in a report on Tuesday, October 10th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.31.

Wells Fargo & Company Trading Up 1.8 %

Shares of NYSE:WFC opened at $42.85 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average price is $40.84 and its 200 day moving average price is $41.67. The company has a market cap of $155.60 billion, a PE ratio of 9.25, a P/E/G ratio of 0.79 and a beta of 1.17. Wells Fargo & Company has a fifty-two week low of $35.25 and a fifty-two week high of $48.84.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.15. Wells Fargo & Company had a return on equity of 11.18% and a net margin of 17.06%. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.09 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo & Company’s dividend payout ratio (DPR) is 30.24%.

Insider Buying and Selling

In related news, Director Richard K. Davis bought 3,500 shares of the stock in a transaction on Thursday, November 9th. The shares were purchased at an average price of $41.22 per share, with a total value of $144,270.00. Following the purchase, the director now owns 4,244 shares in the company, valued at $174,937.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.