Grant Private Wealth Management Inc Lowers Stock Position in Wells Fargo & Company $WFC

Grant Private Wealth Management Inc trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 83.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,330 shares of the financial services provider’s stock after selling 30,951 shares during the quarter. Grant Private Wealth Management Inc’s holdings in Wells Fargo & Company were worth $531,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WFC. Brighton Jones LLC boosted its stake in shares of Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares during the period. Northwest & Ethical Investments L.P. purchased a new stake in Wells Fargo & Company during the 1st quarter valued at approximately $1,394,000. Algert Global LLC raised its stake in Wells Fargo & Company by 22.5% during the 1st quarter. Algert Global LLC now owns 69,722 shares of the financial services provider’s stock valued at $5,005,000 after acquiring an additional 12,793 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in Wells Fargo & Company by 10.0% during the 1st quarter. Aptus Capital Advisors LLC now owns 31,566 shares of the financial services provider’s stock worth $2,266,000 after acquiring an additional 2,881 shares during the period. Finally, Senator Investment Group LP purchased a new position in shares of Wells Fargo & Company in the 1st quarter valued at approximately $35,895,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $92.17 on Wednesday. The company has a 50-day simple moving average of $85.98 and a 200-day simple moving average of $82.05. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $289.34 billion, a PE ratio of 15.16, a P/E/G ratio of 0.96 and a beta of 1.11. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $94.26.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were issued a $0.45 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.0%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. UBS Group cut their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.68.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.