Wells Fargo & Co (WFC) Holdings Cut by Welch Group LLC

Welch Group LLC lessened its holdings in Wells Fargo & Co (NYSE:WFC) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,173 shares of the financial services provider’s stock after selling 3,892 shares during the period. Welch Group LLC’s holdings in Wells Fargo & Co were worth $1,002,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WFC. Boston Partners grew its position in Wells Fargo & Co by 140.1% in the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after acquiring an additional 11,139,780 shares during the last quarter. Capital World Investors boosted its stake in shares of Wells Fargo & Co by 10.8% during the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Wells Fargo & Co by 19.7% during the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after purchasing an additional 7,445,414 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Wells Fargo & Co by 26.7% during the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after purchasing an additional 6,291,906 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Wells Fargo & Co by 396.3% during the second quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock valued at $326,655,000 after purchasing an additional 4,707,207 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wells Fargo & Co (NYSE WFC) opened at $64.22 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $316,470.00, a P/E ratio of 15.55, a P/E/G ratio of 1.68 and a beta of 0.96. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $64.31.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). The company had revenue of $22.05 billion during the quarter, compared to analyst estimates of $22.64 billion. Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. Wells Fargo & Co’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. analysts predict that Wells Fargo & Co will post 4.7 EPS for the current year.

A number of brokerages have recently commented on WFC. Royal Bank of Canada lifted their price target on Wells Fargo & Co to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. Vetr lowered Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $53.07 price target on the stock. in a research note on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Wells Fargo & Co in a research note on Tuesday, January 16th. 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. Finally, Atlantic Securities raised Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price target on the stock in a research note on Wednesday, January 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $61.71.

In related news, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is owned by insiders.

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Wells Fargo & Co 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.

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

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