Barrington Strategic Wealth Management Group LLC Sells 965 Shares of Wells Fargo & Co (WFC)

Barrington Strategic Wealth Management Group LLC reduced its position in Wells Fargo & Co (NYSE:WFC) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,053 shares of the financial services provider’s stock after selling 965 shares during the quarter. Wells Fargo & Co comprises about 1.1% of Barrington Strategic Wealth Management Group LLC’s holdings, making the stock its 22nd biggest holding. Barrington Strategic Wealth Management Group LLC’s holdings in Wells Fargo & Co were worth $2,154,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Wells Fargo & Co by 1.2% in the second quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after acquiring an additional 3,621,402 shares during the period. Capital World Investors boosted its position in shares of Wells Fargo & Co by 10.8% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after acquiring an additional 10,927,679 shares during the period. Capital Research Global Investors boosted its position in shares of Wells Fargo & Co by 19.7% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after acquiring an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Wells Fargo & Co by 26.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after acquiring an additional 6,291,906 shares during the period. Finally, Davis Selected Advisers boosted its position in shares of Wells Fargo & Co by 1.9% in the second quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock valued at $1,438,821,000 after acquiring an additional 472,585 shares during the period. Institutional investors own 75.70% of the company’s stock.

Shares of Wells Fargo & Co (NYSE:WFC) opened at $62.75 on Friday. The firm has a market cap of $309,220.00, a P/E ratio of 16.21, a PEG ratio of 1.71 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. 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 earnings per share 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 the consensus estimate of $22.30 billion. Wells Fargo & Co had a return on equity of 12.59% and a net margin of 22.00%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. research analysts predict that Wells Fargo & Co will post 3.99 earnings per share for the current year.

WFC has been the subject of several research analyst reports. Vertical Group upgraded shares of Wells Fargo & Co from a “sell” rating to a “buy” rating in a research report on Thursday, December 7th. Goldman Sachs Group reiterated a “buy” rating on shares of Wells Fargo & Co in a research report on Wednesday, October 11th. Royal Bank of Canada reiterated a “buy” rating and set a $60.00 target price on shares of Wells Fargo & Co in a research report on Wednesday, November 15th. Vetr upgraded shares of Wells Fargo & Co from a “sell” rating to a “strong-buy” rating in a research report on Monday, November 6th. Finally, Citigroup reiterated a “buy” rating and set a $65.00 target price (up from $60.00) on shares of Wells Fargo & Co in a research report on Monday, October 9th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $58.87.

In related news, 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,482 shares of company stock valued at $10,471,050. Company insiders own 0.22% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Barrington Strategic Wealth Management Group LLC Sells 965 Shares of Wells Fargo & Co (WFC)” was published by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another publication, it was illegally copied and republished in violation of U.S. and international copyright laws. The original version of this piece can be viewed at https://www.com-unik.info/2018/01/06/barrington-strategic-wealth-management-group-llc-sells-965-shares-of-wells-fargo-co-wfc.html.

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.

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

What are top analysts saying about Wells Fargo & Co? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Wells Fargo & Co and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit