Captrust Financial Advisors raised its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 50.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,857 shares of the financial services provider’s stock after purchasing an additional 11,351 shares during the period. Captrust Financial Advisors’ holdings in Wells Fargo & Co were worth $1,877,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in WFC. Sanders Capital LLC bought a new position in Wells Fargo & Co during the 2nd quarter valued at approximately $952,809,000. Magellan Asset Management Ltd raised its position in shares of Wells Fargo & Co by 24.1% in the 1st 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 in the last quarter. Charles Schwab Investment Advisory Inc. bought a new position in shares of Wells Fargo & Co in the 2nd quarter worth approximately $321,220,000. Rockefeller Capital Management L.P. bought a new position in shares of Wells Fargo & Co in the 1st quarter worth approximately $154,981,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Wells Fargo & Co by 5.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 50,957,630 shares of the financial services provider’s stock worth $2,670,689,000 after acquiring an additional 2,497,659 shares in the last quarter. 77.57% of the stock is owned by institutional investors and hedge funds.
WFC stock opened at $53.67 on Tuesday. Wells Fargo & Co has a 1 year low of $50.26 and a 1 year high of $66.31. The firm has a market capitalization of $256.37 billion, a PE ratio of 12.95, 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.
Several research analysts have recently issued reports on WFC shares. Edward Jones raised Wells Fargo & Co from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. Macquarie downgraded Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a research note on Friday, September 7th. They noted that the move was a valuation call. UBS Group set a $63.00 price target on Wells Fargo & Co and gave the stock a “buy” rating in a research note on Friday, September 28th. Wolfe Research started coverage on Wells Fargo & Co in a research note on Tuesday, September 25th. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research downgraded Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $63.86.
In related news, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was 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 directly owns 109 shares of the company’s stock, valued at approximately $6,323.09. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $58.71, for a total value 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.
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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