Aljian Capital Management LLC Buys Shares of 9,075 Wells Fargo & Company (NYSE:WFC)

Aljian Capital Management LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,075 shares of the financial services provider’s stock, valued at approximately $513,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Claro Advisors LLC increased its holdings in Wells Fargo & Company by 15.6% during the 3rd quarter. Claro Advisors LLC now owns 16,109 shares of the financial services provider’s stock valued at $910,000 after acquiring an additional 2,173 shares in the last quarter. Concord Asset Management LLC VA raised its position in shares of Wells Fargo & Company by 3.8% during the 3rd quarter. Concord Asset Management LLC VA now owns 5,179 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 191 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at $62,000. Adero Partners LLC increased its position in Wells Fargo & Company by 0.7% during the third quarter. Adero Partners LLC now owns 37,008 shares of the financial services provider’s stock worth $2,091,000 after buying an additional 244 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC acquired a new position in shares of Wells Fargo & Company in the third quarter worth $275,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WFC shares. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Morgan Stanley reduced their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and cut their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. Finally, Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $62.12.

Insider Activity

In other news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $74.34 on Monday. Wells Fargo & Company has a 52-week low of $41.99 and a 52-week high of $74.41. The company has a 50 day moving average of $61.17 and a two-hundred day moving average of $59.30. The company has a market cap of $247.51 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.55 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the prior year, the company earned $1.39 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Wells Fargo & Company Profile

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