Oliver Luxxe Assets LLC Sells 230 Shares of Wells Fargo & Company (NYSE:WFC)

Oliver Luxxe Assets LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,672 shares of the financial services provider’s stock after selling 230 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Wells Fargo & Company were worth $398,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new position in shares of Wells Fargo & Company in the 2nd quarter worth $1,719,000. Acadian Asset Management LLC raised its holdings in Wells Fargo & Company by 155.1% during the second quarter. Acadian Asset Management LLC now owns 215,449 shares of the financial services provider’s stock worth $12,790,000 after buying an additional 130,985 shares during the last quarter. Ellis Investment Partners LLC bought a new position in shares of Wells Fargo & Company in the second quarter valued at $250,000. Ballentine Partners LLC grew its holdings in shares of Wells Fargo & Company by 6.2% during the second quarter. Ballentine Partners LLC now owns 37,991 shares of the financial services provider’s stock valued at $2,256,000 after buying an additional 2,206 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Wells Fargo & Company during the second quarter worth about $2,952,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 1.0 %

Shares of NYSE WFC opened at $72.00 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $239.72 billion, a PE ratio of 14.97, a P/E/G ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The business’s fifty day moving average price is $71.64 and its 200-day moving average price is $62.60.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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. The business had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. Wells Fargo & Company’s dividend payout ratio is 33.26%.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the firm’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 in the company, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the business’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 transaction of $2,169,650.00. Following the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Citigroup increased their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday, October 8th. Thirteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.63.

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.