Lenox Wealth Advisors LLC Reduces Holdings in Wells Fargo & Co (NYSE:WFC)

Lenox Wealth Advisors LLC decreased its stake in shares of Wells Fargo & Co (NYSE:WFC) by 33.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,187 shares of the financial services provider’s stock after selling 586 shares during the period. Lenox Wealth Advisors LLC’s holdings in Wells Fargo & Co were worth $34,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Evolution Wealth Advisors LLC increased its stake in Wells Fargo & Co by 119.5% in the 4th quarter. Evolution Wealth Advisors LLC now owns 562 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 306 shares during the last quarter. Howard Wealth Management LLC bought a new position in shares of Wells Fargo & Co during the 4th quarter valued at about $35,000. Wealth Quarterback LLC bought a new position in shares of Wells Fargo & Co during the 4th quarter valued at about $35,000. Total Clarity Wealth Management Inc. bought a new position in shares of Wells Fargo & Co during the 4th quarter valued at about $35,000. Finally, Procyon Private Wealth Partners LLC bought a new position in shares of Wells Fargo & Co during the 4th quarter valued at about $37,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of WFC traded down $0.99 during trading hours on Friday, hitting $26.23. The stock had a trading volume of 32,725,871 shares, compared to its average volume of 32,979,711. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.87 and a quick ratio of 0.85. Wells Fargo & Co has a 12 month low of $25.10 and a 12 month high of $54.75. The firm has a market capitalization of $108.66 billion, a PE ratio of 6.52, a PEG ratio of 0.71 and a beta of 1.35. The stock has a fifty day moving average price of $37.41 and a 200 day moving average price of $47.84.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.17). The company had revenue of $19.86 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. Wells Fargo & Co’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. As a group, analysts anticipate that Wells Fargo & Co will post 3.52 EPS for the current fiscal year.

In other news, CEO Charles W. Scharf bought 173,000 shares of Wells Fargo & Co stock in a transaction dated Friday, March 13th. The shares were purchased at an average cost of $28.69 per share, with a total value of $4,963,370.00. Following the completion of the acquisition, the chief executive officer now owns 176,916 shares of the company’s stock, valued at approximately $5,075,720.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Noski bought 20,000 shares of Wells Fargo & Co stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $29.53 per share, for a total transaction of $590,600.00. Following the completion of the acquisition, the director now directly owns 74 shares of the company’s stock, valued at approximately $2,185.22. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Several research firms have weighed in on WFC. Credit Suisse Group dropped their price objective on Wells Fargo & Co from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Morgan Stanley dropped their price objective on Wells Fargo & Co from $49.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, March 9th. TheStreet cut Wells Fargo & Co from a “b” rating to a “c+” rating in a report on Wednesday, February 12th. Berenberg Bank upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $26.00 target price for the company in a research note on Thursday, March 26th. Finally, Zacks Investment Research upgraded Wells Fargo & Co from a “strong sell” rating to a “hold” rating and set a $23.00 target price for the company in a research note on Tuesday, March 17th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a buy rating to the company’s stock. Wells Fargo & Co presently has a consensus rating of “Hold” and an average target price of $45.21.

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.

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

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