Wells Fargo & Co (WFC) Position Boosted by Institutional & Family Asset Management LLC

Institutional & Family Asset Management LLC boosted its stake in Wells Fargo & Co (NYSE:WFC) by 1.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,873 shares of the financial services provider’s stock after buying an additional 1,126 shares during the period. Wells Fargo & Co accounts for 1.1% of Institutional & Family Asset Management LLC’s portfolio, making the stock its 13th biggest holding. Institutional & Family Asset Management LLC’s holdings in Wells Fargo & Co were worth $5,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Patriot Financial Group Insurance Agency LLC lifted its holdings 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 valued at $106,000 after acquiring an additional 6 shares during the last quarter. Winch Advisory Services LLC lifted its holdings in Wells Fargo & Co by 0.7% in the 2nd quarter. Winch Advisory Services LLC now owns 2,776 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 20 shares during the last quarter. Jackson Grant Investment Advisers Inc. lifted its holdings in Wells Fargo & Co by 0.5% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 4,954 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 26 shares during the last quarter. Financial Advisory Group lifted its holdings in Wells Fargo & Co by 0.7% in the 2nd quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 35 shares during the last quarter. Finally, Financial Advisory Service Inc. lifted its holdings in Wells Fargo & Co by 0.6% in the 2nd quarter. Financial Advisory Service Inc. now owns 7,067 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.

In related news, VP Richard Levy sold 97,000 shares of the 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 filing with the SEC, which is available at this link. Also, Director Ronald Sargent acquired 9,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average price of $55.98 per share, for a total transaction of $503,820.00. Following the acquisition, the director now directly owns 81 shares of the company’s stock, valued at approximately $4,534.38. The disclosure for this purchase can be found here. Insiders sold 184,482 shares of company stock valued at $10,471,050 over the last three months. 0.22% of the stock is owned by insiders.

WFC has been the subject of a number of research analyst reports. Sandler O’Neill raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and upped their price target for the company from $62.04 to $73.00 in a report on Tuesday, January 9th. Zacks Investment Research raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Saturday, February 10th. Vetr lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $54.49 price objective for the company. in a research note on Thursday, November 2nd. Royal Bank of Canada lowered shares of Wells Fargo & Co from an “outperform” rating to an “underperform” rating in a research note on Monday, February 5th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $60.00 price objective on shares of Wells Fargo & Co in a research note on Monday, February 5th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $62.90.

Shares of Wells Fargo & Co (WFC) opened at $59.95 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 stock has a market cap of $295,210.00, a P/E ratio of 17.38, a PEG ratio of 1.57 and a beta of 1.01. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $66.31.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The company had revenue of $22.05 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. research analysts anticipate that Wells Fargo & Co will post 4.72 EPS for the current fiscal year.

Wells Fargo & Co declared that its board has approved a share repurchase program on Tuesday, January 23rd that permits the company to repurchase 350,000,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio (DPR) is 45.22%.

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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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