Asset Management Advisors LLC Decreases Holdings in Wells Fargo & Co (WFC)

Asset Management Advisors LLC reduced its holdings in Wells Fargo & Co (NYSE:WFC) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 4.1% of Asset Management Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Asset Management Advisors LLC’s holdings in Wells Fargo & Co were worth $4,531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rockland Trust Co. lifted its holdings in shares of Wells Fargo & Co by 0.6% in the 2nd quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock valued at $17,539,000 after buying an additional 1,856 shares during the period. Heartland Advisors Inc. increased its stake in Wells Fargo & Co by 3.9% in the 2nd quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock valued at $15,102,000 after purchasing an additional 10,318 shares in the last quarter. Eagle Global Advisors LLC increased its stake in Wells Fargo & Co by 1.8% in the 2nd quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock valued at $6,628,000 after purchasing an additional 2,172 shares in the last quarter. New Jersey Better Educational Savings Trust increased its stake in Wells Fargo & Co by 10.0% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 33,000 shares of the financial services provider’s stock valued at $1,829,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Sage Capital Advisors llc purchased a new position in Wells Fargo & Co in the 2nd quarter valued at approximately $2,423,000. 75.70% of the stock is owned by institutional investors and hedge funds.

WFC has been the subject of several research analyst reports. Citigroup reaffirmed a “buy” rating and issued a $65.00 price objective (up from $60.00) on shares of Wells Fargo & Co in a research note on Monday, October 9th. Robert W. Baird reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Wells Fargo & Co in a research note on Friday, October 6th. Instinet reaffirmed a “buy” rating and issued a $65.00 price objective (up from $64.00) on shares of Wells Fargo & Co in a research note on Saturday, September 30th. Nomura raised their price objective on Wells Fargo & Co from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, September 28th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of Wells Fargo & Co in a research note on Wednesday, October 11th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $58.87.

Wells Fargo & Co (NYSE:WFC) opened at $62.33 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $307,150.00, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.72 and a beta of 0.96. Wells Fargo & Co has a 1 year low of $49.27 and a 1 year high of $63.05.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. Wells Fargo & Co’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. sell-side analysts forecast that Wells Fargo & Co will post 3.99 EPS for the current fiscal year.

In other news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Co stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total value of $3,983,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 184,482 shares of company stock valued at $10,471,050. Company insiders own 0.22% of the company’s stock.

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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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