Wells Fargo & Company (NYSE:WFC) Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 1.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,817 shares of the financial services provider’s stock after selling 159 shares during the period. Cim Investment Management Inc.’s holdings in Wells Fargo & Company were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Wells Fargo & Company by 4.4% during 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 acquiring an additional 831,975 shares in the last quarter. National Pension Service grew its stake in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after purchasing an additional 897,195 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of Wells Fargo & Company by 2.5% during 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 purchasing an additional 162,066 shares in the last quarter. Two Sigma Advisers LP increased its holdings 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 valued at $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Finally, First Pacific Advisors LP lifted its stake 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 during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Beurden Saul Van sold 35,000 shares of the business’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 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 $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade 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 insiders.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of recent analyst reports. Morgan Stanley cut 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 report on Monday, September 30th. Evercore ISI upped their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a report on Tuesday, December 3rd. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.49.

Wells Fargo & Company Stock Down 1.1 %

Wells Fargo & Company stock opened at $70.80 on Friday. The firm has a market capitalization of $235.73 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.49 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The stock’s fifty day simple moving average is $68.69 and its 200-day simple moving average is $61.11.

Wells Fargo & Company (NYSE:WFC) last issued 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. The company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.26%. 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.