Highline Wealth Partners LLC Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Highline Wealth Partners LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,659 shares of the financial services provider’s stock after buying an additional 178 shares during the period. Highline Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $959,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Two Sigma Advisers LP boosted its position in Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Canoe Financial LP purchased a new position in Wells Fargo & Company in the third quarter valued at $160,529,000. Marshall Wace LLP raised its position in shares of Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after acquiring an additional 2,404,898 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after acquiring an additional 1,659,716 shares in the last quarter. Finally, National Pension Service increased its stake in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.8 %

Shares of WFC traded down $1.32 during trading on Friday, reaching $70.25. 7,296,880 shares of the company traded hands, compared to its average volume of 11,643,741. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a 50-day simple moving average of $72.02 and a 200-day simple moving average of $62.82. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The stock has a market cap of $233.90 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The company 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%. Wells Fargo & Company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of 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 26.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on WFC. Evercore ISI raised their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wolfe Research upgraded 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. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Barclays raised their price target on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Citigroup boosted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.92.

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.