Qsemble Capital Management LP Has $3.17 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Qsemble Capital Management LP reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 32.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 56,116 shares of the financial services provider’s stock after selling 27,424 shares during the period. Qsemble Capital Management LP’s holdings in Wells Fargo & Company were worth $3,170,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Canoe Financial LP bought a new stake in Wells Fargo & Company in the 3rd quarter valued at $160,529,000. Marshall Wace LLP raised its stake in shares of Wells Fargo & Company by 3,295.6% in the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after purchasing an additional 2,404,898 shares during the period. Rokos Capital Management LLP lifted its holdings in shares of Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after purchasing an additional 1,536,152 shares in the last quarter. National Pension Service boosted its position in shares of Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Wells Fargo & Company by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after buying an additional 831,975 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on WFC shares. Citigroup upped their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and reduced their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Piper Sandler boosted their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lowered their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.07.

Wells Fargo & Company Stock Up 1.2 %

Wells Fargo & Company stock opened at $76.88 on Tuesday. Wells Fargo & Company has a twelve month low of $42.52 and a twelve month high of $77.31. The stock has a market cap of $255.97 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.58 and a beta of 1.14. The company’s 50-day moving average price is $63.74 and its two-hundred day moving average price is $59.91. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.39 EPS. As a group, analysts expect that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.