Murphy Pohlad Asset Management LLC Trims Position in Wells Fargo & Company (NYSE:WFC)

Murphy Pohlad Asset Management LLC lessened its stake in Wells Fargo & Company (NYSE:WFC) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,733 shares of the financial services provider’s stock after selling 450 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Wells Fargo & Company were worth $1,115,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company in the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company during the 2nd quarter worth about $26,000. Valued Wealth Advisors LLC grew its holdings in Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares in the last quarter. Finally, Fairscale Capital LLC bought a new position in Wells Fargo & Company during the 2nd quarter worth about $47,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $64.68 on Friday. The firm has a market capitalization of $220.16 billion, a P/E ratio of 13.45, a PEG ratio of 1.48 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average price of $58.50 and a 200 day moving average price of $58.54. Wells Fargo & Company has a 52 week low of $39.39 and a 52 week high of $66.39.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (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 company had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period last year, the firm posted $1.39 EPS. Wells Fargo & Company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts expect that Wells Fargo & Company will post 5.36 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders 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 yield of 2.47%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WFC shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Compass Point increased their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. 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 report on Wednesday. BMO Capital Markets raised their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and lowered their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.12.

Insiders Place Their Bets

In other Wells Fargo & Company 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 transaction 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 approximately $10,421,957. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 completion of 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

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.