Sentry Investment Management LLC Has $16.30 Million Position in Wells Fargo & Co (WFC)

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Sentry Investment Management LLC decreased its position in shares of Wells Fargo & Co (NYSE:WFC) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 293,940 shares of the financial services provider’s stock after selling 31,259 shares during the quarter. Wells Fargo & Co makes up approximately 1.1% of Sentry Investment Management LLC’s holdings, making the stock its 12th largest holding. Sentry Investment Management LLC’s holdings in Wells Fargo & Co were worth $16,296,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Meadow Creek Investment Management LLC raised its holdings in Wells Fargo & Co by 2.2% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 747,648 shares of the financial services provider’s stock valued at $41,450,000 after acquiring an additional 15,840 shares during the period. Tiverton Asset Management LLC raised its holdings in Wells Fargo & Co by 83.7% in the 2nd quarter. Tiverton Asset Management LLC now owns 166,737 shares of the financial services provider’s stock valued at $9,244,000 after acquiring an additional 75,977 shares during the period. Western Standard LLC raised its holdings in Wells Fargo & Co by 2.5% in the 2nd quarter. Western Standard LLC now owns 54,000 shares of the financial services provider’s stock valued at $2,994,000 after acquiring an additional 1,300 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Wells Fargo & Co by 0.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 500,621 shares of the financial services provider’s stock worth $27,755,000 after purchasing an additional 2,258 shares during the period. Finally, Proficio Capital Partners LLC increased its holdings in shares of Wells Fargo & Co by 18.4% during the second quarter. Proficio Capital Partners LLC now owns 5,699 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 886 shares during the period. 77.57% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently commented on the stock. Zacks Investment Research cut shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Keefe, Bruyette & Woods raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $57.00 to $63.00 in a research note on Sunday, July 15th. They noted that the move was a valuation call. ValuEngine cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Susquehanna Bancshares set a $63.00 target price on shares of Wells Fargo & Co and gave the company a “hold” rating in a research report on Friday, July 13th. Finally, Morgan Stanley upgraded shares of Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $57.00 to $62.00 in a research report on Monday, July 2nd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Wells Fargo & Co currently has an average rating of “Hold” and a consensus target price of $64.22.

Wells Fargo & Co stock traded up $0.67 during midday trading on Friday, hitting $52.11. 32,045,388 shares of the stock were exchanged, compared to its average volume of 20,470,955. Wells Fargo & Co has a 52-week low of $50.26 and a 52-week high of $66.31. The stock has a market cap of $256.37 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 0.88.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.04). The firm had revenue of $21.94 billion for the quarter, compared to analysts’ expectations of $21.90 billion. Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. As a group, analysts predict that Wells Fargo & Co will post 4.55 EPS for the current fiscal year.

In other Wells Fargo & Co news, EVP Hope A. Hardison sold 25,000 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the transaction, the executive vice president now directly owns 109 shares in the company, valued at $6,323.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Avid Modjtabai sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $58.71, for a total transaction of $5,871,000.00. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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