BBR Partners LLC Has $983,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

BBR Partners LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,405 shares of the financial services provider’s stock after selling 381 shares during the quarter. BBR Partners LLC’s holdings in Wells Fargo & Company were worth $983,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WFC. Dimensional Fund Advisors LP raised its position in Wells Fargo & Company by 4.4% in the second 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 purchasing an additional 831,975 shares during the last quarter. National Pension Service raised its holdings in 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 buying an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Wells Fargo & Company by 2.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after buying an additional 162,066 shares during the last quarter. First Pacific Advisors LP grew its holdings in Wells Fargo & Company by 2.1% during the 2nd quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock worth $313,500,000 after acquiring an additional 108,480 shares during the last quarter. Finally, Canoe Financial LP acquired a new position in Wells Fargo & Company in the 3rd quarter valued at approximately $160,529,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred 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 directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $77.17 on Thursday. Wells Fargo & Company has a 52 week low of $42.79 and a 52 week high of $78.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day moving average price of $64.65 and a two-hundred day moving average price of $60.13. The firm has a market capitalization of $256.94 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.60 and a beta of 1.14.

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 (EPS) for the quarter, topping 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 business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. Wells Fargo & Company’s revenue was down 2.4% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

Analyst Ratings Changes

A number of brokerages have recently commented on WFC. Citigroup lifted their price target 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. Piper Sandler lifted their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Morgan Stanley decreased their price target on 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. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.07.

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.