Consolidated Planning Corp Buys 507 Shares of Wells Fargo & Company (NYSE:WFC)

Consolidated Planning Corp increased its stake in Wells Fargo & Company (NYSE:WFC) by 12.9% during the third quarter, Holdings Channel reports. The firm owned 4,449 shares of the financial services provider’s stock after acquiring an additional 507 shares during the period. Consolidated Planning Corp’s holdings in Wells Fargo & Company were worth $251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Wells Fargo & Company by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after buying an additional 831,975 shares during the period. National Pension Service raised its position in Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in Wells Fargo & Company by 67.1% during the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after purchasing an additional 2,349,595 shares during the last quarter. First Pacific Advisors LP boosted its holdings in shares of Wells Fargo & Company by 2.1% in the 2nd quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock valued at $313,500,000 after purchasing an additional 108,480 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Wells Fargo & Company by 38.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after purchasing an additional 1,415,647 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Insider Activity

In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction on 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 in the company, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $70.05 on Friday. 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 firm’s fifty day simple moving average is $59.59 and its two-hundred day simple moving average is $58.86. Wells Fargo & Company has a 12 month low of $40.27 and a 12 month high of $74.27. The stock has a market capitalization of $233.23 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.63 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the company earned $1.39 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, analysts predict that Wells Fargo & Company will post 5.39 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Piper Sandler raised their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley dropped their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Finally, The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.