Empower Advisory Group LLC Buys 8,222 Shares of Wells Fargo & Company (NYSE:WFC)

Empower Advisory Group LLC boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 11.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,608 shares of the financial services provider’s stock after purchasing an additional 8,222 shares during the period. Empower Advisory Group LLC’s holdings in Wells Fargo & Company were worth $4,497,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Income Research & Management bought a new position in Wells Fargo & Company in the third quarter valued at $211,000. Mattson Financial Services LLC bought a new position in Wells Fargo & Company in the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the second quarter valued at $26,000. Valued Wealth Advisors LLC grew its position in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its position in Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WFC shares. Compass Point raised their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target of $62.12.

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business’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 sale, 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 legal filing with the SEC, which can be accessed through this link. In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business’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 sale, 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the sale, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. The trade was 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 Trading Up 0.3 %

Shares of Wells Fargo & Company stock opened at $72.79 on Thursday. The firm has a market capitalization of $242.35 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm’s 50 day moving average is $60.15 and its 200 day moving average is $59.01. Wells Fargo & Company has a 1 year low of $41.46 and a 1 year high of $74.27.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

About Wells Fargo & Company

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.