Todays Report: The Wells Fargo & Co. (WFC) Position Maintained by Waldron LP

The Wells Fargo & Co. (WFC) Position Maintained by Waldron LP

Waldron LP held its stake in Wells Fargo & Co. (NYSE:WFC) during the second quarter, Holdings Channel reports. The institutional investor owned 14,165 shares of the financial services provider’s stock at the end of the second quarter. Waldron LP’s holdings in Wells Fargo & Co. were worth $727,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Wells Fargo & Co. by 2.7% in the first quarter. Wellington Management Group LLP now owns 131,270,916 shares of the financial services provider’s stock worth $6,348,262,000 after buying an additional 3,450,553 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Wells Fargo & Co. by 8.8% in the first quarter. BlackRock Fund Advisors now owns 57,985,130 shares of the financial services provider’s stock worth $2,804,161,000 after buying an additional 4,695,036 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Wells Fargo & Co. by 1.3% in the first quarter. Geode Capital Management LLC now owns 39,052,057 shares of the financial services provider’s stock worth $1,884,841,000 after buying an additional 502,040 shares in the last quarter. Legal & General Group Plc increased its position in shares of Wells Fargo & Co. by 2.1% in the first quarter. Legal & General Group Plc now owns 22,729,888 shares of the financial services provider’s stock worth $1,099,251,000 after buying an additional 457,687 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in shares of Wells Fargo & Co. by 20.5% in the first quarter. Primecap Management Co. CA now owns 18,501,167 shares of the financial services provider’s stock worth $894,716,000 after buying an additional 3,149,895 shares in the last quarter. Institutional investors own 73.98% of the company’s stock.

Wells Fargo & Co. (NYSE:WFC) traded down 1.77% during midday trading on Thursday, reaching $44.52. 11,057,183 shares of the company’s stock traded hands. Wells Fargo & Co. has a 1-year low of $43.55 and a 1-year high of $56.34. The company has a market capitalization of $224.63 billion, a price-to-earnings ratio of 10.99 and a beta of 0.91. The firm’s 50-day moving average is $46.94 and its 200-day moving average is $48.11.

Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The business earned $22.20 billion during the quarter. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. Analysts forecast that Wells Fargo & Co. will post $4.02 earnings per share for the current year.

WFC has been the subject of a number of analyst reports. Vetr downgraded shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $46.32 target price for the company. in a research note on Tuesday, August 30th. Citigroup Inc. reaffirmed an “outperform” rating and set a $50.00 target price (down previously from $56.00) on shares of Wells Fargo & Co. in a research note on Monday, September 26th. Zacks Investment Research downgraded shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating in a research note on Thursday, September 29th. Deutsche Bank AG reaffirmed a “buy” rating and set a $50.00 target price (down previously from $59.00) on shares of Wells Fargo & Co. in a research note on Friday, September 16th. Finally, Sandler O’Neill reaffirmed a “hold” rating on shares of Wells Fargo & Co. in a research note on Friday, September 30th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $50.41.

In other news, COO Timothy J. Sloan sold 20,500 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the completion of the sale, the chief operating officer now owns 650,815 shares in the company, valued at approximately $31,837,869.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Wells Fargo & Co. Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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