Themes Management Co LLC Makes New $1.12 Million Investment in Wells Fargo & Company $WFC

Themes Management Co LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,012 shares of the financial services provider’s stock, valued at approximately $1,120,000.

A number of other institutional investors also recently made changes to their positions in the business. Private Wealth Group LLC raised its position in shares of Wells Fargo & Company by 2.5% in the 4th quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 108 shares in the last quarter. Nixon Peabody Trust Co. raised its position in shares of Wells Fargo & Company by 3.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 115 shares in the last quarter. Simmons Bank raised its position in shares of Wells Fargo & Company by 1.9% in the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its position in shares of Wells Fargo & Company by 1.0% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock valued at $1,123,000 after purchasing an additional 117 shares in the last quarter. Finally, Main Street Group LTD raised its position in shares of Wells Fargo & Company by 36.9% in the 3rd quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WFC. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. UBS Group reaffirmed a “buy” rating and issued a $113.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. Morgan Stanley cut their target price on Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Evercore reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Finally, JPMorgan Chase & Co. cut their target price on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.53.

Wells Fargo & Company Stock Performance

WFC stock opened at $76.52 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The firm has a market cap of $234.15 billion, a P/E ratio of 11.81, a P/E/G ratio of 0.90 and a beta of 0.96. Wells Fargo & Company has a 12-month low of $71.89 and a 12-month high of $97.76. The stock’s 50 day simple moving average is $78.95 and its 200 day simple moving average is $85.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.02. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 EPS. As a group, equities research analysts predict that Wells Fargo & Company will post 6.82 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is currently 27.78%.

Insider Activity at Wells Fargo & Company

In related news, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the sale, the executive vice president directly owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. This represents a 26.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 83,478 shares in the company, 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. Corporate insiders own 0.14% of the company’s stock.

Wells Fargo & Company Company Profile

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.