Beaton Management Co. Inc. Acquires New Holdings in Wells Fargo & Company (WFC)

Beaton Management Co. Inc. acquired a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,830 shares of the financial services provider’s stock, valued at approximately $711,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vantage Financial Partners Ltd. Inc. acquired a new position in Wells Fargo & Company during the second quarter valued at approximately $1,095,000. Brick & Kyle Associates grew its holdings in Wells Fargo & Company by 9.5% during the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 162 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in Wells Fargo & Company during the second quarter valued at approximately $104,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Wells Fargo & Company by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 6 shares during the last quarter. Finally, Delphi Private Advisors LLC grew its holdings in Wells Fargo & Company by 262.8% during the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,461 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

Several brokerages have commented on WFC. Vertical Group upgraded Wells Fargo & Company from a “sell” rating to a “buy” rating in a report on Thursday, December 7th. Royal Bank of Canada reiterated a “buy” rating and set a $60.00 price target on shares of Wells Fargo & Company in a report on Wednesday, November 15th. Vetr upgraded Wells Fargo & Company from a “sell” rating to a “strong-buy” rating in a report on Monday, November 6th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $59.00 price target on shares of Wells Fargo & Company in a report on Monday, October 16th. Finally, UBS set a $55.00 price objective on Wells Fargo & Company and gave the company a “hold” rating in a research report on Monday, October 16th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $57.25.

In other Wells Fargo & Company news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Company stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Company stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by company insiders.

Shares of Wells Fargo & Company (NYSE:WFC) traded down $0.93 during mid-day trading on Thursday, reaching $59.40. The company had a trading volume of 18,227,000 shares, compared to its average volume of 18,449,338. The company has a market capitalization of $297,080.66, a PE ratio of 14.57, a P/E/G ratio of 1.45 and a beta of 0.96. Wells Fargo & Company has a 52-week low of $49.27 and a 52-week high of $60.56. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The firm had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $1.03 earnings per share. research analysts anticipate that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a $0.39 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $1.56 annualized dividend and a yield of 2.63%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 40.31%.

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Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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