Pallas Capital Advisors LLC Sells 782 Shares of Wells Fargo & Company (NYSE:WFC)

Pallas Capital Advisors LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,594 shares of the financial services provider’s stock after selling 782 shares during the period. Pallas Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $2,781,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. Canoe Financial LP acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at $160,529,000. Marshall Wace LLP lifted its position in Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after buying an additional 2,404,898 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after buying an additional 1,659,716 shares during the last quarter. Finally, National Pension Service grew its holdings in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after acquiring an additional 897,195 shares in 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 news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on WFC shares. Morgan Stanley reduced their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Tuesday, October 8th. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.92.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC traded up $0.63 during trading on Monday, hitting $70.59. 10,435,976 shares of the company were exchanged, compared to its average volume of 12,538,234. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13. The stock has a 50 day moving average of $72.13 and a 200 day moving average of $62.97. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $235.03 billion, a PE ratio of 14.68, a P/E/G ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts predict that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Wells Fargo & Company 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.