Advisors Asset Management Inc. decreased its stake in Wells Fargo & Company (NYSE:WFC) by 23.8% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 245,136 shares of the financial services provider’s stock after selling 76,561 shares during the period. Advisors Asset Management Inc.’s holdings in Wells Fargo & were worth $13,644,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Raymond James Trust N.A. boosted its stake in shares of Wells Fargo & by 2.0% in the first quarter. Raymond James Trust N.A. now owns 288,588 shares of the financial services provider’s stock valued at $16,063,000 after buying an additional 5,548 shares in the last quarter. Osborn Williams & Donohoe LLC boosted its stake in shares of Wells Fargo & by 1.7% in the first quarter. Osborn Williams & Donohoe LLC now owns 126,879 shares of the financial services provider’s stock valued at $7,062,000 after buying an additional 2,150 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its stake in shares of Wells Fargo & by 5.3% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 382,589 shares of the financial services provider’s stock valued at $21,295,000 after buying an additional 19,271 shares in the last quarter. Denali Advisors LLC boosted its stake in shares of Wells Fargo & by 19.2% in the first quarter. Denali Advisors LLC now owns 408,203 shares of the financial services provider’s stock valued at $22,721,000 after buying an additional 65,727 shares in the last quarter. Finally, Hills Bank & Trust Co. boosted its stake in shares of Wells Fargo & by 0.6% in the first quarter. Hills Bank & Trust Co. now owns 91,725 shares of the financial services provider’s stock valued at $5,106,000 after buying an additional 572 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wells Fargo & Company (NYSE WFC) traded down 0.08% during mid-day trading on Monday, reaching $51.73. 2,208,417 shares of the company’s stock traded hands. The stock has a market cap of $256.78 billion, a P/E ratio of 12.74 and a beta of 0.95. The company has a 50 day moving average price of $53.60 and a 200-day moving average price of $54.71. Wells Fargo & Company has a 12 month low of $43.55 and a 12 month high of $59.99.

Wells Fargo & (NYSE:WFC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.02 by $0.05. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The company had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $22.23 billion. During the same period last year, the firm posted $1.01 earnings per share. Wells Fargo &’s revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post $4.17 EPS for the current year.

Wells Fargo & announced that its board has approved a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $11.50 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, August 2nd. This is a boost from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.01%. Wells Fargo &’s dividend payout ratio (DPR) is 38.42%.

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Several brokerages have recently commented on WFC. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Zacks Investment Research upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Buckingham Research reiterated a “neutral” rating and set a $62.00 price target (up previously from $60.00) on shares of Wells Fargo & in a research report on Monday, July 10th. Vetr cut shares of Wells Fargo & from a “buy” rating to a “hold” rating and set a $57.21 price target for the company. in a research report on Thursday, May 4th. Finally, Keefe, Bruyette & Woods reiterated an “overweight” rating on shares of Wells Fargo & in a research report on Thursday, July 13th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Wells Fargo & presently has a consensus rating of “Hold” and a consensus price target of $55.83.

In related news, insider Mary T. Mack sold 38,988 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $52.58, for a total transaction of $2,049,989.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Loughlin sold 20,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $52.16, for a total value of $1,043,200.00. Following the sale, the insider now directly owns 7 shares in the company, valued at $365.12. The disclosure for this sale can be found here. Insiders have sold 131,278 shares of company stock worth $6,940,120 over the last ninety days. 0.22% of the stock is currently owned by insiders.

About Wells Fargo &

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.

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

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