Wells Fargo & Co (NYSE:WFC) Stake Lowered by Asset Management Advisors LLC

Asset Management Advisors LLC reduced its position in Wells Fargo & Co (NYSE:WFC) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,165 shares of the financial services provider’s stock after selling 3,475 shares during the quarter. Wells Fargo & Co comprises about 4.1% of Asset Management Advisors LLC’s holdings, making the stock its 10th biggest holding. Asset Management Advisors LLC’s holdings in Wells Fargo & Co were worth $4,531,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership raised its stake in Wells Fargo & Co by 6.1% in the first quarter. Artisan Partners Limited Partnership now owns 1,237,557 shares of the financial services provider’s stock valued at $68,882,000 after purchasing an additional 71,330 shares in the last quarter. Alley Co LLC raised its stake in shares of Wells Fargo & Co by 63.8% during the first quarter. Alley Co LLC now owns 96,424 shares of the financial services provider’s stock worth $5,367,000 after acquiring an additional 37,546 shares in the last quarter. Argent Capital Management LLC raised its stake in shares of Wells Fargo & Co by 40.2% during the first quarter. Argent Capital Management LLC now owns 418,696 shares of the financial services provider’s stock worth $23,305,000 after acquiring an additional 120,093 shares in the last quarter. Investec Asset Management LTD raised its stake in shares of Wells Fargo & Co by 12.4% during the first quarter. Investec Asset Management LTD now owns 92,438 shares of the financial services provider’s stock worth $5,145,000 after acquiring an additional 10,222 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in shares of Wells Fargo & Co by 0.5% during the first quarter. SRS Capital Advisors Inc. now owns 43,631 shares of the financial services provider’s stock worth $2,428,000 after acquiring an additional 215 shares in the last quarter. Institutional investors own 75.70% of the company’s stock.

WFC has been the topic of several research reports. Citigroup reissued a “buy” rating and set a $65.00 price target (up from $60.00) on shares of Wells Fargo & Co in a research note on Monday, October 9th. Robert W. Baird reissued a “buy” rating and set a $58.00 price target on shares of Wells Fargo & Co in a research note on Friday, October 6th. Instinet reissued a “buy” rating and set a $65.00 price target (up from $64.00) on shares of Wells Fargo & Co in a research note on Saturday, September 30th. Nomura lifted their price target on shares of Wells Fargo & Co from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, September 28th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of Wells Fargo & Co in a research note on Wednesday, October 11th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.02.

In related news, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction on Thursday, November 30th. The shares were 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 quarter, insiders sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is currently owned by company insiders.

Wells Fargo & Co (NYSE WFC) opened at $63.01 on Friday. 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 & Co has a one year low of $49.27 and a one year high of $63.67. The company has a market cap of $310,510.00, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.72 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. analysts anticipate that Wells Fargo & Co will post 3.98 EPS for the current year.

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Wells Fargo & Co 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 & Co (NYSE:WFC)

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