Wells Fargo & Company $WFC Shares Sold by Capital International Investors

Key Points

• Capital International Investors trimmed its Wells Fargo stake by 0.8%, selling 280,532 shares and now holds 35,545,580 shares (≈1.13% of the company) valued at about $2.98 billion.
• Insider selling: Two EVPs recently sold a combined 55,000 shares (Kleber Santos 25,000; Bridget E. Engle 30,000), and insiders have disposed of 115,000 shares (~$10.05M) over the last 90 days, leaving insiders with just 0.08% ownership.
• Recent results and payout: Wells Fargo beat EPS estimates ($1.76 vs. $1.66), has a $243 billion market cap, pays a $0.45 quarterly dividend (annualized $1.80, ~2.3% yield), and holds a consensus "Moderate Buy" analyst rating with a $97.03 price target.

Capital International Investors decreased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,545,580 shares of the financial services provider's stock after selling 280,532 shares during the quarter. Capital International Investors owned about 1.13% of Wells Fargo & Company worth $2,979,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hilton Capital Management LLC acquired a new position in Wells Fargo & Company in the 2nd quarter valued at $3,656,000. Mawer Investment Management Ltd. acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $147,165,000. Guerra Advisors Inc grew its position in shares of Wells Fargo & Company by 43.2% in the third quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider's stock valued at $3,222,000 after purchasing an additional 11,594 shares during the period. AlphaQuest LLC grew its position in shares of Wells Fargo & Company by 1,121.0% in the third quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider's stock valued at $2,018,000 after purchasing an additional 22,107 shares during the period. Finally, UMB Bank n.a. increased its stake in Wells Fargo & Company by 52.7% in the third quarter. UMB Bank n.a. now owns 138,862 shares of the financial services provider's stock valued at $11,639,000 after purchasing an additional 47,946 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Wells Fargo & Company

In related news, EVP Kleber Santos sold 25,000 shares of the company's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the completion of the sale, the executive vice president directly owned 79,876 shares of the company's stock, valued at approximately $7,006,722.72. This represents a 23.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bridget E. Engle sold 30,000 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the sale, the executive vice president owned 83,478 shares of the company's stock, valued at approximately $7,270,933.80. This represents a 26.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 115,000 shares of company stock valued at $10,050,000 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $78.76 on Tuesday. The company has a market cap of $243.03 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 0.88 and a beta of 1.08. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.90. The stock's 50-day moving average is $89.15 and its 200-day moving average is $86.66.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.10. The business had revenue of $21.29 billion during the quarter, compared to analysts' expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 EPS. Equities analysts anticipate that Wells Fargo & Company will post 5.89 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, March 1st. Shareholders of record on Friday, February 6th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, February 6th. Wells Fargo & Company's payout ratio is currently 28.71%.

Analyst Ratings Changes

Several equities analysts recently weighed in on WFC shares. Truist Financial reduced their target price on Wells Fargo & Company from $104.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, January 15th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Wells Fargo & Company in a research note on Thursday, January 15th. HSBC reiterated a "hold" rating and set a $74.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Weiss Ratings restated a "buy (b)" rating on shares of Wells Fargo & Company in a report on Wednesday, January 21st. Finally, Argus upped their price target on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $97.03.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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