Diversified Trust Co Grows Stake in Wells Fargo & Company (NYSE:WFC)

Diversified Trust Co grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 41.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,468 shares of the financial services provider’s stock after purchasing an additional 10,133 shares during the period. Diversified Trust Co’s holdings in Wells Fargo & Company were worth $2,421,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Two Sigma Advisers LP raised its stake in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares during the last quarter. Canoe Financial LP purchased a new position in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $160,529,000. Marshall Wace LLP boosted its stake in Wells Fargo & Company by 3,295.6% in the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after purchasing an additional 2,404,898 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after purchasing an additional 1,659,716 shares in the last quarter. Finally, National Pension Service grew its position in 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 last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at $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 SEC, which is available 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 stock was 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. The trade was a 26.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Down 0.6 %

Wells Fargo & Company stock opened at $71.60 on Wednesday. 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 $238.39 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The business has a 50 day simple moving average of $71.77 and a 200-day simple moving average of $62.69. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the company earned $1.39 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.43 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.23%. Wells Fargo & Company’s payout ratio is 33.26%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WFC. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Piper Sandler lifted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley cut their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Thirteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $69.24.

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.