Acropolis Investment Management LLC lessened its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 14.0% in the third quarter, Holdings Channel.com reports. The firm owned 15,442 shares of the financial services provider’s stock after selling 2,511 shares during the period. Acropolis Investment Management LLC’s holdings in Wells Fargo & Co were worth $765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Daily Journal Corp lifted its holdings in Wells Fargo & Co by 9,900.0% during the 2nd quarter. Daily Journal Corp now owns 159,180,000 shares of the financial services provider’s stock worth $75,324,000 after buying an additional 157,588,200 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Wells Fargo & Co by 10,041.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 20,960,596 shares of the financial services provider’s stock worth $991,856,000 after buying an additional 20,753,922 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Wells Fargo & Co by 216.1% during the 2nd quarter. AQR Capital Management LLC now owns 7,564,725 shares of the financial services provider’s stock worth $357,963,000 after buying an additional 5,171,498 shares during the last quarter. Longview Partners Guernsey LTD lifted its holdings in Wells Fargo & Co by 24.2% during the 2nd quarter. Longview Partners Guernsey LTD now owns 26,122,688 shares of the financial services provider’s stock worth $1,236,126,000 after buying an additional 5,090,670 shares during the last quarter. Finally, Primecap Management Co. CA lifted its holdings in Wells Fargo & Co by 10.0% during the 2nd quarter. Primecap Management Co. CA now owns 50,564,911 shares of the financial services provider’s stock worth $2,392,732,000 after buying an additional 4,600,225 shares during the last quarter. Hedge funds and other institutional investors own 75.28% of the company’s stock.

Shares of NYSE WFC traded up $1.69 during mid-day trading on Tuesday, hitting $50.96. The company had a trading volume of 1,829,440 shares, compared to its average volume of 22,834,276. The stock has a market cap of $216.82 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.98 and a beta of 1.11. Wells Fargo & Co has a 12 month low of $43.02 and a 12 month high of $55.04. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.89 and a quick ratio of 0.87. The firm’s 50 day simple moving average is $48.25 and its two-hundred day simple moving average is $47.16.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.26). The company had revenue of $22.01 billion during the quarter, compared to the consensus estimate of $21.32 billion. Wells Fargo & Co had a return on equity of 13.74% and a net margin of 23.26%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the business posted $1.13 EPS. Equities analysts forecast that Wells Fargo & Co will post 4.69 earnings per share for the current year.

Wells Fargo & Co announced that its Board of Directors has authorized a stock repurchase plan on Thursday, June 27th that allows the company to buyback $23.10 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 11.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of research analysts have commented on the company. ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets reduced their target price on Wells Fargo & Co to $59.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Wolfe Research downgraded Wells Fargo & Co from a “peer perform” rating to an “underperform” rating in a report on Wednesday, July 10th. Argus raised Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, September 30th. Finally, Robert W. Baird downgraded Wells Fargo & Co from an “outperform” rating to a “neutral” rating and set a $50.00 target price on the stock. in a report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $50.48.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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