Wells Fargo & Company $WFC Shares Sold by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 18.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 33,735 shares of the financial services provider’s stock after selling 7,877 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Wells Fargo & Company were worth $3,144,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in WFC. Navalign LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth about $27,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $28,000. Imprint Wealth LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth about $31,000. Finally, Cloud Capital Management LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth about $37,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Buying and Selling

In other news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the completion of the sale, the executive vice president directly owned 83,478 shares in the company, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the sale, the executive vice president owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is currently owned by company insiders.

Wells Fargo & Company Price Performance

Shares of WFC opened at $76.52 on Tuesday. Wells Fargo & Company has a twelve month low of $71.89 and a twelve month high of $97.76. The stock’s 50 day moving average is $78.95 and its two-hundred day moving average is $85.16. The firm has a market capitalization of $234.15 billion, a PE ratio of 11.81, a P/E/G ratio of 0.90 and a beta of 0.96. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The company had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the previous year, the company earned $1.39 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 6.82 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 27.78%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. KGI Securities downgraded shares of Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. HSBC raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Wednesday, April 1st. Evercore reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. Finally, UBS Group reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.53.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.