Healthcare of Ontario Pension Plan Trust Fund Cuts Stock Position in Wells Fargo & Company (NYSE:WFC)

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 57.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 993,000 shares of the financial services provider’s stock after selling 1,346,800 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Wells Fargo & Company were worth $56,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $29,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $34,000. Finally, Valued Wealth Advisors LLC lifted its holdings in shares of 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 worth $37,000 after buying an additional 220 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research analyst reports. Morgan Stanley cut their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. Citigroup boosted their target price 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. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Tuesday, October 8th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $63.07.

Wells Fargo & Company Stock Down 0.2 %

Shares of NYSE:WFC opened at $77.17 on Thursday. The firm has a market capitalization of $256.94 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. The business has a 50 day simple moving average of $64.65 and a two-hundred day simple moving average of $60.13. Wells Fargo & Company has a 1 year low of $42.79 and a 1 year high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (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 was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders 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 dividend yield of 2.07%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’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 in the company, valued at $10,421,957. This represents a 26.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 sale, the executive vice president now directly 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 currently owned by insiders.

Wells Fargo & 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.