Prudent Man Advisors LLC Sells 8,030 Shares of Wells Fargo & Company $WFC

Prudent Man Advisors LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 49.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,340 shares of the financial services provider’s stock after selling 8,030 shares during the period. Prudent Man Advisors LLC’s holdings in Wells Fargo & Company were worth $699,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Hilton Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the second quarter valued at $3,656,000. Mawer Investment Management Ltd. bought a new stake in Wells Fargo & Company during the 3rd quarter worth about $147,165,000. Guerra Advisors Inc lifted its position in Wells Fargo & Company by 43.2% during the 3rd quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider’s stock valued at $3,222,000 after purchasing an additional 11,594 shares during the period. AlphaQuest LLC lifted its position in Wells Fargo & Company by 1,121.0% during the 3rd 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 period. Finally, UMB Bank n.a. boosted its stake in shares of Wells Fargo & Company by 52.7% in the 3rd 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. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the completion of the sale, the executive vice president directly owned 169,496 shares in the company, valued at $14,813,950.40. This represents a 26.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction dated 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 in the company, valued at $7,270,933.80. This trade represents a 26.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 115,000 shares of company stock valued at $10,050,000. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Down 1.9%

Shares of NYSE:WFC opened at $76.85 on Thursday. The company has a 50 day moving average price of $88.50 and a two-hundred day moving average price of $86.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $237.13 billion, a PE ratio of 12.26, a PEG ratio of 0.85 and a beta of 1.08. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $97.76.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share 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 analysts’ expectations of $21.63 billion. During the same period last year, the firm posted $1.43 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Trending Headlines about Wells Fargo & Company

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Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WFC. TD Cowen lowered their price target on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, January 15th. Argus raised their price objective on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Barclays lifted their target price on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Wells Fargo & Company from $99.00 to $99.50 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Thirteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

View Our Latest Analysis on Wells Fargo & Company

About Wells Fargo & Company

(Free Report)

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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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