River & Mercantile Asset Management LLP Purchases 75,500 Shares of Wells Fargo & Co (NYSE:WFC)

River & Mercantile Asset Management LLP lifted its stake in Wells Fargo & Co (NYSE:WFC) by 18.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 486,635 shares of the financial services provider’s stock after purchasing an additional 75,500 shares during the period. Wells Fargo & Co accounts for about 4.0% of River & Mercantile Asset Management LLP’s investment portfolio, making the stock its 5th biggest holding. River & Mercantile Asset Management LLP’s holdings in Wells Fargo & Co were worth $26,831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of WFC. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Wells Fargo & Co in the second quarter worth approximately $1,095,000. Brick & Kyle Associates grew its stake in shares of Wells Fargo & Co by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 162 shares during the period. Stelac Advisory Services LLC bought a new stake in shares of Wells Fargo & Co in the second quarter worth approximately $104,000. Patriot Financial Group Insurance Agency LLC grew its stake in shares of 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 worth $106,000 after acquiring an additional 6 shares during the period. Finally, Delphi Private Advisors LLC grew its stake in shares of Wells Fargo & Co by 262.8% in the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,461 shares during the period. Institutional investors own 75.70% of the company’s stock.

In other news, VP Richard Levy sold 97,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John R. Shrewsberry sold 70,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,482 shares of company stock valued at $10,471,050. Insiders own 0.22% of the company’s stock.

Wells Fargo & Co (NYSE WFC) traded down $0.46 during mid-day trading on Friday, hitting $62.55. 24,861,800 shares of the company’s stock traded hands, compared to its average volume of 20,510,000. The stock has a market capitalization of $308,240.00, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.66 and a beta of 0.96. Wells Fargo & Co has a 1-year low of $49.27 and a 1-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 released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). The firm had revenue of $22.05 billion for the quarter, compared to analysts’ expectations of $22.64 billion. Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 earnings per share. sell-side analysts expect that Wells Fargo & Co will post 3.98 EPS for the current year.

A number of research firms recently issued reports on WFC. Vetr downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $53.07 price objective on the stock. in a report on Monday, October 2nd. Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price objective on the stock in a report on Wednesday. Instinet reaffirmed a “buy” rating and set a $65.00 price target (up previously from $64.00) on shares of Wells Fargo & Co in a report on Saturday, September 30th. Vining Sparks reaffirmed a “buy” rating and set a $75.00 price target on shares of Wells Fargo & Co in a report on Monday, January 8th. Finally, Nomura lifted their price target on shares of Wells Fargo & Co from $64.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, September 28th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. Wells Fargo & Co has a consensus rating of “Hold” and an average 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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