Pacer Advisors Inc. Boosts Position in Wells Fargo & Company (NYSE:WFC)

Pacer Advisors Inc. grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 252,386 shares of the financial services provider’s stock after buying an additional 4,061 shares during the quarter. Pacer Advisors Inc.’s holdings in Wells Fargo & Company were worth $14,257,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in WFC. Ellenbecker Investment Group increased its holdings in shares of Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after buying an additional 164 shares in the last quarter. Income Research & Management acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $211,000. Modera Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 0.9% during the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 167 shares during the last quarter. Catalina Capital Group LLC boosted its position in shares of Wells Fargo & Company by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 168 shares during the period. Finally, John W. Brooker & Co. CPAs increased its stake in Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.5 %

Shares of NYSE:WFC opened at $75.96 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 stock has a market capitalization of $252.91 billion, a PE ratio of 15.79, a P/E/G ratio of 1.56 and a beta of 1.14. Wells Fargo & Company has a 1 year low of $42.52 and a 1 year high of $76.08. The firm has a fifty day moving average price of $63.28 and a 200 day moving average price of $59.81.

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 (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 company 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 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Analysts Set New Price Targets

Several research analysts have commented on WFC shares. Piper Sandler raised their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Morgan Stanley decreased their target price 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. Finally, Compass Point upped their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.07.

Insider Buying and Selling

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 transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

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.