Investec Asset Management LTD reduced its holdings in Wells Fargo & Co (NYSE:WFC) by 18.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,087 shares of the financial services provider’s stock after selling 18,774 shares during the period. Investec Asset Management LTD’s holdings in Wells Fargo & Co were worth $4,551,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Coyle Financial Counsel LLC purchased a new stake in Wells Fargo & Co during the first quarter worth $101,000. Landaas & Co. WI ADV purchased a new stake in Wells Fargo & Co during the second quarter worth $117,000. Stelac Advisory Services LLC boosted its holdings in Wells Fargo & Co by 99.3% during the first quarter. Stelac Advisory Services LLC now owns 3,581 shares of the financial services provider’s stock worth $188,000 after buying an additional 1,784 shares in the last quarter. Diligent Investors LLC purchased a new stake in Wells Fargo & Co during the second quarter worth $200,000. Finally, Day & Ennis LLC purchased a new stake in Wells Fargo & Co during the second quarter worth $202,000. 77.57% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Macquarie downgraded shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. They noted that the move was a valuation call. Morgan Stanley raised shares of Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $57.00 to $62.00 in a report on Monday, July 2nd. Keefe, Bruyette & Woods raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $57.00 to $63.00 in a report on Sunday, July 15th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares set a $63.00 price objective on shares of Wells Fargo & Co and gave the company a “hold” rating in a report on Friday, July 13th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Wells Fargo & Co currently has an average rating of “Hold” and an average target price of $64.22.

Shares of NYSE WFC traded up $0.67 during mid-day trading on Friday, reaching $52.11. The company’s stock had a trading volume of 32,045,388 shares, compared to its average volume of 20,470,955. The stock has a market capitalization of $256.37 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.22. Wells Fargo & Co has a 1-year low of $50.26 and a 1-year high of $66.31.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, October 12th. The financial services provider reported $1.13 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.04). The business had revenue of $21.94 billion during the quarter, compared to analyst estimates of $21.90 billion. Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. As a group, equities research analysts expect that Wells Fargo & Co will post 4.55 EPS for the current year.

In other news, EVP Hope A. Hardison sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 109 shares in the company, valued at $6,323.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Avid Modjtabai sold 100,000 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $58.71, for a total transaction of $5,871,000.00. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

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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