Good Life Advisors LLC Trims Holdings in Wells Fargo & Co (WFC)

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Good Life Advisors LLC cut its stake in Wells Fargo & Co (NYSE:WFC) by 16.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,096 shares of the financial services provider’s stock after selling 2,463 shares during the period. Good Life Advisors LLC’s holdings in Wells Fargo & Co were worth $667,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WFC. Coyle Financial Counsel LLC acquired a new position in shares of Wells Fargo & Co in the 1st quarter valued at $101,000. Landaas & Co. WI ADV acquired a new position in shares of Wells Fargo & Co in the 2nd quarter valued at $117,000. Turim 21 Investimentos Ltda. acquired a new position in shares of Wells Fargo & Co in the 1st quarter valued at $177,000. Maple Capital Management Inc. acquired a new position in shares of Wells Fargo & Co in the 4th quarter valued at $209,000. Finally, Stelac Advisory Services LLC raised its stake in shares of Wells Fargo & Co by 99.3% in the 1st quarter. Stelac Advisory Services LLC now owns 3,581 shares of the financial services provider’s stock valued at $188,000 after buying an additional 1,784 shares in the last quarter. 75.77% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on WFC shares. Morgan Stanley upgraded shares of Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $57.00 to $62.00 in a research report on Monday, July 2nd. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Saturday, July 7th. Susquehanna Bancshares set a $63.00 target price on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research report on Friday, July 13th. Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $57.00 to $63.00 in a research report on Sunday, July 15th. They noted that the move was a valuation call. Finally, Macquarie cut shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a research report on Friday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. Wells Fargo & Co presently has an average rating of “Hold” and an average target price of $63.34.

WFC opened at $57.40 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $287.54 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.60 and a beta of 1.12. Wells Fargo & Co has a 1-year low of $49.43 and a 1-year high of $66.31.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, July 13th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.04). The company had revenue of $21.55 billion during the quarter, compared to analyst estimates of $21.52 billion. Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. equities research analysts forecast that Wells Fargo & Co will post 4.56 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Friday, August 10th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.00%. The ex-dividend date was Thursday, August 9th. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.39. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.85%.

In other news, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were 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 owns 109 shares of the company’s stock, valued at approximately $6,323.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $5,871,000.00. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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.

Further Reading: Fundamental Analysis and Individual Investors

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

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