Wells Fargo & Co (WFC) Shares Sold by G&S Capital LLC

G&S Capital LLC decreased its position in shares of Wells Fargo & Co (NYSE:WFC) by 10.0% in the third quarter, HoldingsChannel reports. The firm owned 15,487 shares of the financial services provider’s stock after selling 1,715 shares during the quarter. G&S Capital LLC’s holdings in Wells Fargo & Co were worth $814,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of WFC. Sanders Capital LLC purchased a new position in shares of Wells Fargo & Co during the second quarter valued at about $952,809,000. Magellan Asset Management Ltd grew its position in shares of Wells Fargo & Co by 24.1% during the first quarter. Magellan Asset Management Ltd now owns 31,024,898 shares of the financial services provider’s stock valued at $1,626,015,000 after purchasing an additional 6,017,222 shares in the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Wells Fargo & Co during the second quarter valued at about $321,220,000. American Century Companies Inc. grew its position in shares of Wells Fargo & Co by 29.9% during the second quarter. American Century Companies Inc. now owns 10,583,847 shares of the financial services provider’s stock valued at $586,768,000 after purchasing an additional 2,436,521 shares in the last quarter. Finally, Boston Partners grew its position in shares of Wells Fargo & Co by 12.6% during the second quarter. Boston Partners now owns 21,223,020 shares of the financial services provider’s stock valued at $1,176,604,000 after purchasing an additional 2,372,583 shares in the last quarter. Hedge funds and other institutional investors own 77.59% of the company’s stock.

In other Wells Fargo & Co news, EVP Avid Modjtabai sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $58.71, for a total transaction of $5,871,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Hope A. Hardison sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the transaction, the executive vice president now owns 109 shares of the company’s stock, valued at approximately $6,323.09. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Wells Fargo & Co from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Macquarie upgraded Wells Fargo & Co from a “neutral” rating to an “outperform” rating in a research report on Monday, October 15th. ValuEngine lowered Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Morgan Stanley cut their price objective on Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, July 16th. Finally, Citigroup upgraded Wells Fargo & Co from a “neutral” rating to a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $63.79.

WFC opened at $53.61 on Friday. The stock has a market capitalization of $261.50 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.14 and a beta of 1.01. Wells Fargo & Co has a 12 month low of $50.02 and a 12 month high of $66.31. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.26.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.04). The company had revenue of $21.94 billion during the quarter, compared to analysts’ expectations of $21.90 billion. Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. Analysts anticipate that Wells Fargo & Co will post 4.5 earnings per share for the current year.

Wells Fargo & Co declared that its Board of Directors has initiated a stock buyback plan on Tuesday, October 23rd that allows the company to buyback 350,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Friday, November 9th will be given a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.72 annualized dividend and a yield of 3.21%. Wells Fargo & Co’s dividend payout ratio is currently 41.85%.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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