Wells Fargo & Co (NYSE:WFC) Holdings Trimmed by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. trimmed its position in Wells Fargo & Co (NYSE:WFC) by 92.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 341,321 shares of the financial services provider’s stock after selling 4,069,284 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Wells Fargo & Co were worth $18,824,000 as of its most recent filing with the Securities & Exchange Commission.

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

In other Wells Fargo & Co news, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $57.80, for a total value of $1,010,459.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction dated 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. In the last quarter, insiders sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is currently owned by company insiders.

Wells Fargo & Co (NYSE WFC) opened at $63.01 on Friday. The stock has a market cap of $310,510.00, a PE ratio of 16.28, a P/E/G ratio of 1.72 and a beta of 0.96. Wells Fargo & Co has a one year low of $49.27 and a one year high of $63.67. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). The firm 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 business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. analysts expect that Wells Fargo & Co will post 3.98 earnings per share for the current year.

Several analysts recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $64.00 to $69.00 in a report on Wednesday, January 3rd. Atlantic Securities upgraded shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 target price on the stock in a report on Wednesday. Vetr cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $53.07 target price on the stock. in a report on Monday, October 2nd. Instinet restated a “buy” rating and set a $65.00 target price (up previously from $64.00) on shares of Wells Fargo & Co in a report on Saturday, September 30th. Finally, Vining Sparks restated a “buy” rating and set a $75.00 target price on shares of Wells Fargo & Co in a report on Monday. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the stock. Wells Fargo & Co presently has a consensus rating of “Hold” and a consensus price target of $61.02.

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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.

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

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