Wells Fargo & Co (WFC) Shares Sold by Courant Investment Management LLC

Courant Investment Management LLC lessened its stake in Wells Fargo & Co (NYSE:WFC) by 27.7% in the third quarter, HoldingsChannel reports. The firm owned 183,125 shares of the financial services provider’s stock after selling 70,000 shares during the quarter. Wells Fargo & Co accounts for 7.9% of Courant Investment Management LLC’s portfolio, making the stock its 7th largest position. Courant Investment Management LLC’s holdings in Wells Fargo & Co were worth $10,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Heritage Wealth Advisors grew its stake in Wells Fargo & Co by 12.6% in the 3rd quarter. Heritage Wealth Advisors now owns 27,115 shares of the financial services provider’s stock valued at $1,495,000 after acquiring an additional 3,025 shares during the last quarter. Allen Investment Management LLC acquired a new stake in Wells Fargo & Co in the 3rd quarter valued at about $484,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Wells Fargo & Co by 1.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,137,449 shares of the financial services provider’s stock valued at $62,730,000 after acquiring an additional 11,336 shares during the last quarter. Comerica Bank grew its stake in Wells Fargo & Co by 20.2% in the 3rd quarter. Comerica Bank now owns 1,672,928 shares of the financial services provider’s stock valued at $93,433,000 after acquiring an additional 280,576 shares during the last quarter. Finally, CI Global Investments Inc. grew its stake in Wells Fargo & Co by 509.4% in the 3rd quarter. CI Global Investments Inc. now owns 3,319,943 shares of the financial services provider’s stock valued at $183,095,000 after acquiring an additional 2,775,177 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Shares of Wells Fargo & Co (NYSE WFC) opened at $63.88 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88. Wells Fargo & Co has a 12-month low of $49.27 and a 12-month high of $64.04. The stock has a market cap of $314,790.00, a P/E ratio of 15.47, a P/E/G ratio of 1.65 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The company had revenue of $22.05 billion during the quarter, compared to analyst estimates of $22.64 billion. During the same period in the prior year, the business posted $0.96 earnings per share. Wells Fargo & Co’s revenue was up 2.2% on a year-over-year basis. analysts anticipate that Wells Fargo & Co will post 4.69 EPS for the current fiscal year.

In related news, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the SEC, which is available through this link. Also, insider Michael J. Loughlin sold 17,482 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. Insiders sold 184,482 shares of company stock worth $10,471,050 over the last three months. Corporate insiders own 0.22% of the company’s stock.

WFC has been the topic of a number of research reports. Sandler O’Neill raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and increased their price objective for the company from $62.04 to $73.00 in a research note on Tuesday, January 9th. Vetr cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $54.49 price target on the stock. in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Buckingham Research raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $75.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $59.00 price target on shares of Wells Fargo & Co in a research note on Thursday, January 4th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. Wells Fargo & Co has an average rating of “Hold” and an average price target of $61.37.

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Wells Fargo & Co 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.

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 & Co (NYSE:WFC).

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

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