Mycio Wealth Partners LLC Trims Stake in Wells Fargo & Co (WFC)

Mycio Wealth Partners LLC lessened its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,452 shares of the financial services provider’s stock after selling 2,590 shares during the period. Mycio Wealth Partners LLC’s holdings in Wells Fargo & Co were worth $1,293,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WFC. Delphi Private Advisors LLC lifted its stake in Wells Fargo & Co by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,461 shares in the last quarter. Brick & Kyle Associates lifted its stake in Wells Fargo & Co by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 162 shares in the last quarter. Stelac Advisory Services LLC purchased a new position in Wells Fargo & Co in the 2nd quarter worth approximately $104,000. Patriot Financial Group Insurance Agency LLC lifted its stake in Wells Fargo & Co by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares in the last quarter. Finally, Clear Investment Research LLC purchased a new position in Wells Fargo & Co in the 2nd quarter worth approximately $121,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

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

Shares of Wells Fargo & Co (WFC) traded down $0.46 during mid-day trading on Friday, hitting $62.55. 24,861,800 shares of the company were exchanged, compared to its average volume of 20,510,000. Wells Fargo & Co has a 12-month low of $49.27 and a 12-month high of $63.67. The firm has a market capitalization of $308,240.00, a P/E ratio of 16.16, a P/E/G ratio of 1.72 and a beta of 0.96. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.13. Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The firm had revenue of $22.05 billion during the quarter, compared to analysts’ expectations of $22.64 billion. During the same period in the previous year, the company earned $0.96 earnings per share. Wells Fargo & Co’s quarterly revenue was up 2.2% compared to the same quarter last year. equities analysts expect that Wells Fargo & Co will post 3.98 earnings per share for the current fiscal year.

WFC has been the topic of a number of research reports. Vertical Group raised shares of Wells Fargo & Co from a “sell” rating to a “buy” rating in a research note on Thursday, December 7th. Sandler O’Neill raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and lifted their price target for the company from $62.04 to $73.00 in a research report on Tuesday. Goldman Sachs Group reaffirmed a “buy” rating on shares of Wells Fargo & Co in a research report on Wednesday, October 11th. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 price target on shares of Wells Fargo & Co in a research report on Wednesday, November 15th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $59.00 target price on shares of Wells Fargo & Co in a research report on Thursday, January 4th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $61.02.

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About Wells Fargo & Co

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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