Wedgewood Investors Inc. PA Continues to Hold Stake in Wells Fargo & Company (WFC)

Wedgewood Investors Inc. PA maintained its stake in shares of Wells Fargo & Company (NYSE:WFC) during the first quarter, Holdings Channel reports. The institutional investor owned 4,985 shares of the financial services provider’s stock at the end of the first quarter. Wedgewood Investors Inc. PA’s holdings in Wells Fargo & Company were worth $278,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of WFC. Jupiter Asset Management Ltd. raised its stake in shares of Wells Fargo & Company by 69.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 815,406 shares of the financial services provider’s stock valued at $44,937,000 after buying an additional 335,161 shares during the last quarter. Investec Asset Management LTD raised its stake in shares of Wells Fargo & Company by 856.2% in the fourth quarter. Investec Asset Management LTD now owns 82,216 shares of the financial services provider’s stock valued at $4,531,000 after buying an additional 73,618 shares during the last quarter. TCW Group Inc. raised its stake in shares of Wells Fargo & Company by 49.0% in the fourth quarter. TCW Group Inc. now owns 616,904 shares of the financial services provider’s stock valued at $33,998,000 after buying an additional 202,781 shares during the last quarter. Courant Investment Management LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $13,950,000. Finally, United Bank bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $262,000. Institutional investors own 75.94% of the company’s stock.

Shares of Wells Fargo & Company (NYSE WFC) opened at 55.74 on Monday. The stock’s 50 day moving average price is $53.07 and its 200-day moving average price is $55.18. The stock has a market cap of $278.55 billion, a PE ratio of 13.94 and a beta of 0.96. Wells Fargo & Company has a one year low of $43.55 and a one year high of $59.99.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Thursday, April 13th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.25 billion. Wells Fargo & Company had a return on equity of 12.56% and a net margin of 23.18%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. On average, equities analysts predict that Wells Fargo & Company will post $4.14 earnings per share for the current fiscal year.

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Several equities research analysts have commented on WFC shares. Vetr upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating and set a $55.28 target price on the stock in a research report on Tuesday, March 21st. Jefferies Group LLC restated a “hold” rating and set a $62.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, April 5th. Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Company from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $53.00 to $63.00 in a research report on Wednesday, April 5th. Piper Jaffray Companies upgraded shares of Wells Fargo & Company from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $54.84 to $55.00 in a research report on Monday, April 10th. Finally, Evercore ISI restated an “outperform” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 11th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $55.41.

In other Wells Fargo & Company news, Director Ronald Sargent acquired 9,050 shares of Wells Fargo & Company stock in a transaction that occurred on Friday, May 5th. The stock was purchased at an average cost of $55.15 per share, with a total value of $499,107.50. Following the purchase, the director now owns 81 shares in the company, valued at $4,467.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Sloan acquired 39,000 shares of Wells Fargo & Company stock in a transaction that occurred on Monday, April 17th. The stock was acquired at an average cost of $51.65 per share, with a total value of $2,014,350.00. Following the completion of the purchase, the chief executive officer now owns 754,581 shares in the company, valued at approximately $38,974,108.65. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 106,392 shares of company stock valued at $5,526,822 and sold 231,278 shares valued at $12,361,120. 0.22% of the stock is currently owned by corporate insiders.

About Wells Fargo & Company

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC).

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

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