Sage Capital Advisors llc Grows Holdings in Wells Fargo & Co (NYSE:WFC)

Sage Capital Advisors llc increased its position in Wells Fargo & Co (NYSE:WFC) by 2.2% in the 4th quarter, HoldingsChannel reports. The fund owned 44,183 shares of the financial services provider’s stock after buying an additional 953 shares during the quarter. Wells Fargo & Co makes up about 1.5% of Sage Capital Advisors llc’s holdings, making the stock its 22nd largest holding. Sage Capital Advisors llc’s holdings in Wells Fargo & Co were worth $2,377,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Livingston Group Asset Management CO operating as Southport Capital Management grew its holdings in Wells Fargo & Co by 2.2% during the 4th quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 22,280 shares of the financial services provider’s stock valued at $1,199,000 after buying an additional 473 shares in the last quarter. Hanson & Doremus Investment Management grew its holdings in Wells Fargo & Co by 222.2% during the 4th quarter. Hanson & Doremus Investment Management now owns 870 shares of the financial services provider’s stock valued at $47,000 after buying an additional 600 shares in the last quarter. Sciencast Management LP purchased a new stake in Wells Fargo & Co during the 4th quarter valued at approximately $389,000. Hemenway Trust Co LLC grew its holdings in Wells Fargo & Co by 13.8% during the 4th quarter. Hemenway Trust Co LLC now owns 6,294 shares of the financial services provider’s stock valued at $339,000 after buying an additional 762 shares in the last quarter. Finally, AE Wealth Management LLC grew its holdings in Wells Fargo & Co by 17.1% during the 4th quarter. AE Wealth Management LLC now owns 129,941 shares of the financial services provider’s stock valued at $6,991,000 after buying an additional 18,993 shares in the last quarter. 75.64% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on WFC shares. Robert W. Baird lowered shares of Wells Fargo & Co from a “neutral” rating to an “underperform” rating and set a $50.00 price objective for the company. in a report on Thursday, January 2nd. Bank of America set a $50.00 target price on Wells Fargo & Co and gave the company a “hold” rating in a research report on Monday, September 30th. Royal Bank of Canada lowered shares of Wells Fargo & Co from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $48.00 to $42.00 in a report on Thursday. Odeon Capital Group cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Thursday, December 19th. Finally, Barclays downgraded shares of Wells Fargo & Co from an “overweight” rating to an “equal weight” rating and set a $59.00 price target on the stock. in a research note on Monday, January 6th. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the stock. Wells Fargo & Co presently has an average rating of “Hold” and an average price target of $49.88.

NYSE:WFC traded up $0.81 during midday trading on Thursday, hitting $49.14. 18,098,499 shares of the company traded hands, compared to its average volume of 18,172,232. The firm’s fifty day moving average is $53.43 and its 200-day moving average is $49.99. Wells Fargo & Co has a 12-month low of $43.34 and a 12-month high of $54.75. The firm has a market capitalization of $208.51 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.07 and a beta of 1.11. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Tuesday, January 14th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.17). The firm had revenue of $19.86 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Wells Fargo & Co had a return on equity of 12.11% and a net margin of 18.81%. During the same period in the previous year, the firm earned $1.21 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, research analysts expect that Wells Fargo & Co will post 4.29 EPS for the current fiscal year.

Wells Fargo & Co Profile

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.

Further Reading: Hedge Funds Explained

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

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