Foster & Motley Inc. trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,308 shares of the financial services provider’s stock after selling 7,597 shares during the quarter. Wells Fargo & Company comprises approximately 1.2% of Foster & Motley Inc.’s investment portfolio, making the stock its 28th biggest position. Foster & Motley Inc.’s holdings in Wells Fargo & Company were worth $6,856,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Rockland Trust Co. boosted its position in Wells Fargo & Company by 0.6% during the second quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock worth $17,539,000 after purchasing an additional 1,856 shares during the period. Heartland Advisors Inc. boosted its position in shares of Wells Fargo & Company by 3.9% in the second quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock valued at $15,102,000 after acquiring an additional 10,318 shares during the period. Kelman Lazarov Inc. boosted its position in shares of Wells Fargo & Company by 6.0% in the second quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after acquiring an additional 3,612 shares during the period. First Citizens Bank & Trust Co. boosted its position in shares of Wells Fargo & Company by 4.7% in the second quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock valued at $5,722,000 after acquiring an additional 4,647 shares during the period. Finally, Eagle Global Advisors LLC boosted its position in shares of Wells Fargo & Company by 1.8% in the second quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock valued at $6,628,000 after acquiring an additional 2,172 shares during the period. 75.69% of the stock is owned by hedge funds and other institutional investors.

Shares of Wells Fargo & Company (NYSE WFC) opened at $60.14 on Thursday. Wells Fargo & Company has a 52-week low of $49.27 and a 52-week high of $61.27. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91. The firm has a market cap of $299,985.97, a PE ratio of 14.72, a P/E/G ratio of 1.89 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 the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The firm had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. During the same period in the prior year, the company earned $1.03 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. analysts expect that Wells Fargo & Company will post 3.98 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.56 annualized dividend and a yield of 2.59%. Wells Fargo & Company’s dividend payout ratio is 40.31%.

A number of brokerages have recently issued reports on WFC. Vetr raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating and set a $54.49 target price for the company in a research report on Tuesday, October 24th. Piper Jaffray Companies reissued a “neutral” rating and issued a $50.00 target price (down previously from $52.00) on shares of Wells Fargo & Company in a research report on Wednesday, September 13th. Vertical Group raised shares of Wells Fargo & Company from a “sell” rating to a “buy” rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 16th. Finally, Zacks Investment Research raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Tuesday. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $57.25.

In other Wells Fargo & Company news, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $5,477,590.00. The disclosure for this sale can be found here. Insiders have sold 184,482 shares of company stock valued at $10,471,050 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

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Wells Fargo & Company 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.

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

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