Novare Capital Management LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 3.1% during the third quarter, Holdings Channel reports. The fund owned 92,715 shares of the financial services provider’s stock after buying an additional 2,807 shares during the period. Novare Capital Management LLC’s holdings in Wells Fargo & Company were worth $4,105,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. CIBC World Markets Inc. increased its stake in Wells Fargo & Company by 13.6% in the second quarter. CIBC World Markets Inc. now owns 784,944 shares of the financial services provider’s stock valued at $37,151,000 after buying an additional 93,961 shares during the last quarter. World Asset Management Inc increased its stake in Wells Fargo & Company by 0.3% in the third quarter. World Asset Management Inc now owns 464,895 shares of the financial services provider’s stock valued at $20,586,000 after buying an additional 1,270 shares during the last quarter. Mason Street Advisors LLC bought a new stake in Wells Fargo & Company during the second quarter valued at $29,454,000. Culbertson A N & Co. Inc. increased its stake in Wells Fargo & Company by 1.7% in the third quarter. Culbertson A N & Co. Inc. now owns 122,556 shares of the financial services provider’s stock valued at $5,427,000 after buying an additional 2,052 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in Wells Fargo & Company by 97.7% in the third quarter. Acadian Asset Management LLC now owns 2,511,003 shares of the financial services provider’s stock valued at $111,188,000 after buying an additional 1,240,585 shares during the last quarter. 72.63% of the stock is owned by institutional investors.

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

Wells Fargo & Company (NYSE:WFC) traded up 0.94% during trading on Friday, reaching $55.01. 25,089,609 shares of the company traded hands. Wells Fargo & Company has a 12 month low of $43.55 and a 12 month high of $58.02. The company has a market cap of $276.28 billion, a PE ratio of 13.65 and a beta of 0.99. The company’s 50-day moving average is $55.02 and its 200 day moving average is $49.32.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.04. Wells Fargo & Company had a net margin of 23.91% and a return on equity of 12.72%. The business earned $21.60 billion during the quarter, compared to analyst estimates of $22.45 billion. During the same quarter last year, the business earned $1.03 earnings per share. Wells Fargo & Company’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post $4.03 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This report was first posted by Daily Political and is owned by of Daily Political. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this report can be accessed at http://www.dailypolitical.com/2017/01/13/wells-fargo-company-wfc-shares-bought-by-novare-capital-management-llc.html.

Several research analysts have recently commented on the stock. Vetr lowered shares of Wells Fargo & Company from a “sell” rating to a “strong sell” rating and set a $46.19 price target for the company. in a report on Thursday, November 17th. Citigroup Inc. reaffirmed an “outperform” rating and issued a $50.00 price target (down from $56.00) on shares of Wells Fargo & Company in a report on Monday, September 26th. Zacks Investment Research lowered shares of Wells Fargo & Company from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $50.00 price target (down from $59.00) on shares of Wells Fargo & Company in a report on Friday, September 16th. Finally, Sandler O’Neill reaffirmed a “hold” rating on shares of Wells Fargo & Company in a report on Friday, September 30th. Eight equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $50.96.

About Wells Fargo & Company

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

5 Day Chart for NYSE:WFC

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC).

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.