Gilbert & Cook Inc. Cuts Holdings in Wells Fargo & Co (WFC)

Gilbert & Cook Inc. decreased its stake in Wells Fargo & Co (NYSE:WFC) by 9.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,483 shares of the financial services provider’s stock after selling 4,514 shares during the quarter. Wells Fargo & Co makes up about 0.8% of Gilbert & Cook Inc.’s holdings, making the stock its 21st biggest position. Gilbert & Cook Inc.’s holdings in Wells Fargo & Co were worth $2,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Stelac Advisory Services LLC bought a new position in Wells Fargo & Co in the 2nd quarter worth $104,000. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Wells Fargo & Co by 0.3% during the 2nd 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. Clear Investment Research LLC acquired a new stake in shares of Wells Fargo & Co during the 2nd quarter valued at about $121,000. Westside Investment Management Inc. boosted its position in shares of Wells Fargo & Co by 63.9% during the 2nd quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 891 shares in the last quarter. Finally, America First Investment Advisors LLC boosted its position in shares of Wells Fargo & Co by 8.3% during the 2nd quarter. America First Investment Advisors LLC now owns 2,612 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 75.70% of the company’s stock.

Wells Fargo & Co (WFC) traded down $0.46 on Friday, hitting $62.55. 25,882,911 shares of the stock were exchanged, compared to its average volume of 20,510,000. The firm has a market cap of $308,240.00, a P/E ratio of 16.16, a P/E/G ratio of 1.66 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 current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.13. Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business had revenue of $22.05 billion during the quarter, compared to analyst estimates of $22.64 billion. During the same quarter last year, the business earned $0.96 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. equities analysts predict that Wells Fargo & Co will post 3.98 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the stock. 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 research report on Wednesday. Sandler O’Neill raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and lifted their price target for the company from $62.04 to $73.00 in a report on Tuesday. Vetr downgraded shares of Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 target price for the company. in a research note on Monday, January 8th. Vining Sparks reaffirmed a “buy” rating and issued a $75.00 target price on shares of Wells Fargo & Co in a research note on Monday, January 8th. Finally, BMO Capital Markets reissued a “hold” rating and set a $59.00 price target on shares of Wells Fargo & Co in a research note on Thursday, January 4th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $61.02.

In other news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Co stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $1,010,459.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,482 shares of company stock valued at $10,471,050. Company insiders own 0.22% of the company’s stock.

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About Wells Fargo & Co

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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