Wells Fargo & Company (NYSE:WFC) VP Richard Levy sold 97,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of Wells Fargo & Company (WFC) traded down $0.21 on Friday, reaching $56.47. The company had a trading volume of 30,980,801 shares, compared to its average volume of 18,126,473. The company has a market cap of $273,641.16, a P/E ratio of 13.42, a PEG ratio of 1.34 and a beta of 0.97. Wells Fargo & Company has a 52 week low of $49.27 and a 52 week high of $59.99. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The firm had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.30 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. equities research analysts predict that Wells Fargo & Company will post 3.97 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo & Company’s payout ratio is 40.31%.

A number of analysts have recently weighed in on the company. Vetr raised Wells Fargo & Company from a “sell” rating to a “hold” rating and set a $54.49 price objective for the company in a research note on Tuesday, October 24th. Piper Jaffray Companies restated a “neutral” rating and set a $50.00 price target (down from $52.00) on shares of Wells Fargo & Company in a report on Wednesday, September 13th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 16th. UBS reaffirmed a “neutral” rating and issued a $56.00 price objective (down previously from $59.00) on shares of Wells Fargo & Company in a research note on Friday, September 15th. Finally, Vertical Group began coverage on Wells Fargo & Company in a research note on Friday, October 6th. They issued a “sell” rating on the stock. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $57.20.

Several institutional investors have recently made changes to their positions in WFC. Vanguard Group Inc. lifted its holdings in shares of Wells Fargo & Company by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock worth $17,440,601,000 after buying an additional 3,621,402 shares during the period. Capital World Investors lifted its holdings in shares of Wells Fargo & Company by 10.8% in the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after buying an additional 10,927,679 shares during the period. Capital Research Global Investors lifted its holdings in shares of Wells Fargo & Company by 19.7% in the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after buying an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Wells Fargo & Company by 17.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock worth $1,937,888,000 after acquiring an additional 5,305,125 shares in the last quarter. Finally, Davis Selected Advisers raised its position in shares of Wells Fargo & Company by 1.4% in the 3rd quarter. Davis Selected Advisers now owns 26,335,478 shares of the financial services provider’s stock worth $1,451,064,000 after acquiring an additional 368,667 shares in the last quarter. Hedge funds and other institutional investors own 75.78% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This story was originally published by American Banking News and is the property of of American Banking News. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://www.americanbankingnews.com/2017/12/01/wells-fargo-company-wfc-vp-richard-levy-sells-97000-shares.html.

About Wells Fargo & Company

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Insider Buying and Selling by Quarter for Wells Fargo & Company (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.