World Investment Advisors LLC Acquires 69,901 Shares of Wells Fargo & Company (NYSE:WFC)

World Investment Advisors LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1,263.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,432 shares of the financial services provider’s stock after buying an additional 69,901 shares during the quarter. World Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $4,261,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Income Research & Management purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth about $211,000. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company in the second quarter worth about $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth approximately $29,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $34,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $70.80 on Friday. The business’s 50-day moving average is $68.69 and its 200 day moving average is $61.11. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13. The company has a market capitalization of $235.73 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.49 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the prior year, the firm earned $1.39 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, September 3rd. Finally, UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $67.49.

Insider Transactions at Wells Fargo & Company

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 stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.