Confluence Wealth Services Inc. Has $401,000 Position in Wells Fargo & Company (NYSE:WFC)

Confluence Wealth Services Inc. decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,099 shares of the financial services provider’s stock after selling 304 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Wells Fargo & Company were worth $401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cardinal Capital Management Inc. lifted its holdings in shares of Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after purchasing an additional 11,037 shares in the last quarter. Argus Investors Counsel Inc. increased its position in shares of Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 8,107 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 40.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 179,282 shares of the financial services provider’s stock worth $10,648,000 after purchasing an additional 51,234 shares in the last quarter. Tocqueville Asset Management L.P. raised its position in Wells Fargo & Company by 13.3% during the first quarter. Tocqueville Asset Management L.P. now owns 11,061 shares of the financial services provider’s stock worth $641,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth about $42,108,000. 75.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $64.68 on Monday. Wells Fargo & Company has a 1-year low of $39.39 and a 1-year high of $66.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $58.50 and a two-hundred day moving average price of $58.56. The company has a market cap of $220.16 billion, a P/E ratio of 13.45, a PEG ratio of 1.46 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the previous year, the company earned $1.39 EPS. Wells Fargo & Company’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, analysts anticipate that Wells Fargo & Company will post 5.36 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.47%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Analyst Ratings Changes

Several research firms have issued reports on WFC. The Goldman Sachs Group dropped their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. BMO Capital Markets raised their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $62.12.

About Wells Fargo & Company

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.