SFE Investment Counsel Sells 34,177 Shares of Wells Fargo & Co (WFC)

SFE Investment Counsel lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 28.0% during the third quarter, Holdings Channel reports. The institutional investor owned 87,887 shares of the financial services provider’s stock after selling 34,177 shares during the quarter. Wells Fargo & Co comprises approximately 2.0% of SFE Investment Counsel’s investment portfolio, making the stock its 17th largest position. SFE Investment Counsel’s holdings in Wells Fargo & Co were worth $4,847,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC raised its position in shares of Wells Fargo & Co by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the period. Winch Advisory Services LLC raised its position in shares of Wells Fargo & Co by 0.7% during the second quarter. Winch Advisory Services LLC now owns 2,776 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 20 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in shares of Wells Fargo & Co by 0.5% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 4,954 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 26 shares during the period. Financial Advisory Group raised its position in shares of Wells Fargo & Co by 0.7% during the second quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 35 shares during the period. Finally, Financial Advisory Service Inc. raised its position in shares of Wells Fargo & Co by 0.6% during the second quarter. Financial Advisory Service Inc. now owns 7,067 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Wells Fargo & Co (NYSE WFC) opened at $62.04 on Tuesday. The firm has a market capitalization of $305,730.00, a P/E ratio of 16.03, 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. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Co had a return on equity of 12.59% and a net margin of 22.00%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. sell-side analysts forecast that Wells Fargo & Co will post 3.98 earnings per share for the current fiscal year.

In other Wells Fargo & Co news, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 184,482 shares of company stock worth $10,471,050 in the last ninety days. Insiders own 0.22% of the company’s stock.

A number of equities research analysts have recently commented on the company. Vetr raised Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.49 price target on the stock in a research report on Tuesday, October 24th. Vining Sparks reaffirmed a “buy” rating and set a $75.00 price target on shares of Wells Fargo & Co in a research report on Monday. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $50.00 price target (down previously from $52.00) on shares of Wells Fargo & Co in a research report on Wednesday, September 13th. Vertical Group raised Wells Fargo & Co from a “sell” rating to a “buy” rating in a research report on Thursday, December 7th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 price target on shares of Wells Fargo & Co in a research report on Monday, October 16th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $59.27.

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Wells Fargo & Co 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.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co (NYSE:WFC).

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

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