Wells Fargo & Co (WFC) Shares Sold by Arbor Investment Advisors LLC

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Arbor Investment Advisors LLC lowered its stake in Wells Fargo & Co (NYSE:WFC) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,236 shares of the financial services provider’s stock after selling 2,196 shares during the period. Wells Fargo & Co accounts for 0.4% of Arbor Investment Advisors LLC’s holdings, making the stock its 23rd biggest position. Arbor Investment Advisors LLC’s holdings in Wells Fargo & Co were worth $958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sanders Capital LLC acquired a new stake in shares of Wells Fargo & Co in the second quarter worth $952,809,000. Magellan Asset Management Ltd increased its stake in shares of Wells Fargo & Co by 24.1% in the first quarter. Magellan Asset Management Ltd now owns 31,024,898 shares of the financial services provider’s stock worth $1,626,015,000 after acquiring an additional 6,017,222 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Wells Fargo & Co in the second quarter worth $321,220,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Wells Fargo & Co in the first quarter worth $154,981,000. Finally, American Century Companies Inc. increased its stake in shares of Wells Fargo & Co by 29.9% in the second quarter. American Century Companies Inc. now owns 10,583,847 shares of the financial services provider’s stock worth $586,768,000 after acquiring an additional 2,436,521 shares during the period. 77.57% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on WFC shares. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Saturday, July 7th. Edward Jones upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. UBS Group set a $63.00 price objective on shares of Wells Fargo & Co and gave the stock a “buy” rating in a research note on Friday, September 28th. Morgan Stanley cut their price objective on shares of Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, July 16th. Finally, Susquehanna Bancshares set a $63.00 price objective on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research note on Friday, July 13th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Wells Fargo & Co currently has an average rating of “Hold” and a consensus price target of $64.22.

WFC stock opened at $52.11 on Friday. The firm has a market cap of $256.37 billion, a P/E ratio of 12.68, a PEG ratio of 1.43 and a beta of 1.15. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22. Wells Fargo & Co has a one year low of $50.26 and a one year high of $66.31.

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). Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. Research analysts predict that Wells Fargo & Co will post 4.55 earnings per share for the current year.

In related news, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the sale, the executive vice president now owns 109 shares in the company, valued at $6,323.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction on 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 currently owned by company insiders.

About Wells Fargo & Co

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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