Wells Fargo & Company (NYSE:WFC) Stake Lessened by River Road Asset Management LLC

River Road Asset Management LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,222,937 shares of the financial services provider’s stock after selling 16,810 shares during the quarter. Wells Fargo & Company accounts for about 1.3% of River Road Asset Management LLC’s portfolio, making the stock its 18th largest position. River Road Asset Management LLC’s holdings in Wells Fargo & Company were worth $67,763,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Delphi Private Advisors LLC grew its holdings in Wells Fargo & Company by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,461 shares during the last quarter. Brick & Kyle Associates grew its holdings in Wells Fargo & Company by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 162 shares during the last quarter. Stelac Advisory Services LLC bought a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $104,000. Clear Investment Research LLC bought a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $121,000. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Wells Fargo & Company during the 1st quarter worth approximately $124,000. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

In other Wells Fargo & Company news, insider Michael J. Loughlin sold 17,482 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Levy sold 97,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,482 shares of company stock worth $10,471,050. Corporate insiders own 0.22% of the company’s stock.

Wells Fargo & Company (NYSE:WFC) traded up $0.02 during trading on Wednesday, hitting $58.57. 26,755,322 shares of the company were exchanged, compared to its average volume of 18,356,117. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. Wells Fargo & Company has a 52 week low of $49.27 and a 52 week high of $59.99. The firm has a market cap of $289,120.00, a P/E ratio of 13.86, a PEG ratio of 1.38 and a beta of 0.96.

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.56 annualized dividend and a yield of 2.66%. Wells Fargo & Company’s payout ratio is 40.31%.

WFC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods set a $61.00 price objective on shares of Wells Fargo & Company and gave the company a “buy” rating in a research note on Friday, August 25th. UBS set a $57.00 price objective on shares of Wells Fargo & Company and gave the company a “neutral” rating in a research note on Friday, October 6th. Vetr raised shares of Wells Fargo & Company from a “sell” rating to a “strong-buy” rating in a research note on Monday, November 6th. BMO Capital Markets upped their price objective on shares of Wells Fargo & Company from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 11th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $57.25.

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About Wells Fargo & Company

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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