WealthShield Partners LLC Acquires 19,819 Shares of Wells Fargo & Company $WFC

WealthShield Partners LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 204.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,518 shares of the financial services provider’s stock after acquiring an additional 19,819 shares during the period. WealthShield Partners LLC’s holdings in Wells Fargo & Company were worth $2,751,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Diversified Trust Co. lifted its holdings in shares of Wells Fargo & Company by 59.7% in the fourth quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider’s stock valued at $3,289,000 after purchasing an additional 13,196 shares in the last quarter. Mawer Investment Management Ltd. bought a new stake in Wells Fargo & Company in the 3rd quarter valued at approximately $147,165,000. Guerra Advisors Inc boosted 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 worth $3,222,000 after acquiring an additional 11,594 shares during the last quarter. AlphaQuest LLC grew its stake in shares of 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 worth $2,018,000 after acquiring an additional 22,107 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Wells Fargo & Company by 52.7% in the third 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 own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Wall Street Zen cut Wells Fargo & Company from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. CICC Research initiated coverage on Wells Fargo & Company in a research report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price target on the stock. The Goldman Sachs Group cut their price objective on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.53.

Wells Fargo & Company Stock Up 0.6%

WFC opened at $80.39 on Thursday. The stock has a fifty day moving average of $80.58 and a 200-day moving average of $86.14. The company has a market capitalization of $246.01 billion, a P/E ratio of 12.41, a P/E/G ratio of 0.94 and a beta of 0.96. Wells Fargo & Company has a fifty-two week low of $71.89 and a fifty-two week high of $97.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same period last year, the firm earned $1.39 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Wells Fargo & Company will post 6.82 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is presently 27.78%.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the sale, the executive vice president directly owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total value of $5,244,000.00. Following the completion of the transaction, the executive vice president directly owned 169,496 shares of the company’s stock, valued at $14,813,950.40. This represents a 26.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 115,000 shares of company stock worth $10,050,000. 0.14% of the stock is currently owned by insiders.

About Wells Fargo & Company

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.