Wilsey Asset Management Inc. Sells 54,561 Shares of Wells Fargo & Company $WFC

Wilsey Asset Management Inc. reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 552,771 shares of the financial services provider’s stock after selling 54,561 shares during the quarter. Wells Fargo & Company makes up about 8.5% of Wilsey Asset Management Inc.’s portfolio, making the stock its 2nd largest holding. Wilsey Asset Management Inc.’s holdings in Wells Fargo & Company were worth $46,333,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt raised its position in Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares during the last quarter. Norges Bank bought a new position in shares of Wells Fargo & Company during the second quarter worth about $3,990,551,000. Massachusetts Financial Services Co. MA increased its position in Wells Fargo & Company by 54.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock valued at $1,332,851,000 after purchasing an additional 5,894,747 shares during the period. Amundi raised its holdings in Wells Fargo & Company by 18.2% during the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after purchasing an additional 2,180,693 shares during the last quarter. Finally, Laurel Wealth Advisors LLC boosted its stake in shares of Wells Fargo & Company by 8,010.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock valued at $158,135,000 after purchasing an additional 1,949,395 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.3%

NYSE WFC opened at $91.42 on Friday. The business’s fifty day moving average is $86.47 and its 200-day moving average is $82.19. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $286.97 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.96 and a beta of 1.11. Wells Fargo & Company has a one year low of $58.42 and a one year high of $94.26.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. The company had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 earnings per share. Equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were paid a $0.45 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.0%. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent analyst reports. TD Cowen boosted their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Evercore ISI boosted their price target on Wells Fargo & Company from $101.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $92.04.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.