Investment Centers of America Inc. reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 13.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,415 shares of the financial services provider’s stock after selling 14,081 shares during the period. Investment Centers of America Inc.’s holdings in Wells Fargo & Company were worth $5,069,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WFC. Patriot Financial Group Insurance Agency LLC boosted its stake in Wells Fargo & Company by 0.3% during 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 buying an additional 6 shares during the period. Winch Advisory Services LLC boosted its stake in shares of Wells Fargo & Company 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 purchasing an additional 20 shares during the period. Jackson Grant Investment Advisers Inc. boosted its stake in shares of Wells Fargo & Company by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 24 shares during the period. Financial Advisory Group boosted its stake in shares of Wells Fargo & Company 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 purchasing an additional 35 shares during the period. Finally, Keystone Financial Planning Inc. boosted its stake in shares of Wells Fargo & Company by 0.6% in the first quarter. Keystone Financial Planning Inc. now owns 6,755 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 75.77% of the company’s stock.

In related news, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction dated 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 SEC, which is available through this link. Also, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,482 shares of company stock worth $10,471,050 over the last 90 days. Insiders own 0.22% of the company’s stock.

Wells Fargo & Company (NYSE WFC) traded up $0.79 during trading hours on Friday, reaching $59.36. 32,990,600 shares of the company were exchanged, compared to its average volume of 18,418,143. Wells Fargo & Company has a 1 year low of $49.27 and a 1 year high of $60.00. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The stock has a market cap of $288,413.94, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.41 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The firm had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. During the same quarter last year, the business earned $1.03 earnings per share. The business’s quarterly revenue was down 1.8% on a year-over-year basis. equities research analysts anticipate that Wells Fargo & Company will post 3.97 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were given a dividend of $0.39 per share. The ex-dividend date was Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.63%. Wells Fargo & Company’s payout ratio is currently 40.31%.

Several research analysts have recently commented on WFC shares. Vetr raised shares of Wells Fargo & Company to a “strong-buy” rating in a research note on Thursday, September 7th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Wells Fargo & Company in a research note on Wednesday, August 16th. Goldman Sachs Group reissued a “buy” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 11th. Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, November 15th. Finally, Robert W. Baird reissued a “buy” rating and issued a $58.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, September 5th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $57.25.

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About Wells Fargo & Company

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 & Company (NYSE:WFC)

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