Investors Sell Wells Fargo & Company (WFC) on Strength Following Insider Selling

Investors sold shares of Wells Fargo & Company (NYSE:WFC) on strength during trading hours on Wednesday after an insider sold shares in the company. $163.72 million flowed into the stock on the tick-up and $269.02 million flowed out of the stock on the tick-down, for a money net flow of $105.30 million out of the stock. Of all equities tracked, Wells Fargo & Company had the 0th highest net out-flow for the day. Wells Fargo & Company traded up $0.02 for the day and closed at $58.57Specifically, VP Richard Levy sold 97,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is currently owned by corporate insiders.

A number of research firms have recently commented on WFC. Vertical Group raised shares of Wells Fargo & Company from a “sell” rating to a “buy” rating in a research report on Thursday. Vetr raised shares of Wells Fargo & Company from a “sell” rating to a “strong-buy” rating in a research report on Monday, November 6th. Zacks Investment Research raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Goldman Sachs Group reissued a “buy” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 11th. Finally, Robert W. Baird reissued a “buy” rating and set a $58.00 target price on shares of Wells Fargo & Company in a research report on Friday, October 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $57.25.

The stock has a market cap of $294,100.00, a price-to-earnings ratio of 14.14, a PEG ratio of 1.41 and a beta of 0.96. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 earnings per share. sell-side analysts forecast that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were issued a $0.39 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $1.56 annualized dividend and a yield of 2.63%. Wells Fargo & Company’s dividend payout ratio is presently 40.31%.

A number of hedge funds have recently added to or reduced their stakes in the business. AXA increased its stake in Wells Fargo & Company by 30.4% during the third quarter. AXA now owns 1,752,761 shares of the financial services provider’s stock valued at $96,664,000 after purchasing an additional 408,349 shares during the last quarter. Sage Capital Advisors llc increased its stake in Wells Fargo & Company by 17.0% during the third quarter. Sage Capital Advisors llc now owns 51,173 shares of the financial services provider’s stock valued at $2,822,000 after purchasing an additional 7,435 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in Wells Fargo & Company by 964.6% during the third quarter. Chicago Partners Investment Group LLC now owns 14,149 shares of the financial services provider’s stock valued at $780,000 after purchasing an additional 12,820 shares during the last quarter. Institutional & Family Asset Management LLC increased its stake in Wells Fargo & Company by 1.1% during the third quarter. Institutional & Family Asset Management LLC now owns 102,873 shares of the financial services provider’s stock valued at $5,673,000 after purchasing an additional 1,126 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Wells Fargo & Company by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 3,195,496 shares of the financial services provider’s stock valued at $176,232,000 after purchasing an additional 11,412 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

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About Wells Fargo & Company

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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