Baldwin Investment Management LLC Sells 800 Shares of Wells Fargo & Co (WFC)

Baldwin Investment Management LLC cut its stake in Wells Fargo & Co (NYSE:WFC) by 3.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,018 shares of the financial services provider’s stock after selling 800 shares during the period. Wells Fargo & Co comprises approximately 0.4% of Baldwin Investment Management LLC’s holdings, making the stock its 28th largest position. Baldwin Investment Management LLC’s holdings in Wells Fargo & Co were worth $1,103,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in WFC. Lynch & Associates IN increased its position in Wells Fargo & Co by 0.6% in the third quarter. Lynch & Associates IN now owns 101,123 shares of the financial services provider’s stock valued at $4,478,000 after buying an additional 583 shares during the period. Eqis Capital Management Inc. increased its position in Wells Fargo & Co by 16.6% in the third quarter. Eqis Capital Management Inc. now owns 18,642 shares of the financial services provider’s stock valued at $825,000 after buying an additional 2,656 shares during the period. BNP Paribas Arbitrage SA increased its position in Wells Fargo & Co by 1.5% in the third quarter. BNP Paribas Arbitrage SA now owns 1,872,600 shares of the financial services provider’s stock valued at $82,919,000 after buying an additional 27,768 shares during the period. Cardinal Capital Management Inc. increased its position in Wells Fargo & Co by 2.7% in the third quarter. Cardinal Capital Management Inc. now owns 238,228 shares of the financial services provider’s stock valued at $10,549,000 after buying an additional 6,158 shares during the period. Finally, Curbstone Financial Management Corp increased its position in Wells Fargo & Co by 9.4% in the third quarter. Curbstone Financial Management Corp now owns 39,750 shares of the financial services provider’s stock valued at $1,760,000 after buying an additional 3,400 shares during the period. 73.25% of the stock is currently owned by institutional investors.

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

Shares of Wells Fargo & Co (NYSE:WFC) opened at 57.63 on Tuesday. The stock has a 50 day moving average of $57.80 and a 200-day moving average of $52.28. The firm has a market capitalization of $288.34 billion, a PE ratio of 14.44 and a beta of 0.98. Wells Fargo & Co has a 52 week low of $43.55 and a 52 week high of $59.99.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Friday, January 13th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by $0.04. Wells Fargo & Co had a return on equity of 12.60% and a net margin of 23.30%. The business had revenue of $21.60 billion for the quarter. During the same period last year, the firm posted $1.03 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Co will post $4.20 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 3rd were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, February 1st. This represents a $1.52 dividend on an annualized basis and a yield of 2.64%. Wells Fargo & Co’s payout ratio is 38.10%.

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Several research firms have recently weighed in on WFC. Zacks Investment Research downgraded shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a research report on Monday, January 16th. Evercore ISI reissued a “buy” rating and issued a $51.00 target price on shares of Wells Fargo & Co in a research report on Wednesday, January 11th. Argus downgraded shares of Wells Fargo & Co from a “buy” rating to a “hold” rating and lifted their target price for the stock from $53.00 to $53.78 in a research report on Wednesday, January 18th. Barclays PLC reissued a “buy” rating and issued a $65.00 target price on shares of Wells Fargo & Co in a research report on Tuesday, January 10th. Finally, FBR & Co reissued a “market perform” rating and issued a $55.00 target price on shares of Wells Fargo & Co in a research report on Tuesday, January 17th. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Wells Fargo & Co currently has an average rating of “Hold” and an average target price of $53.01.

In related news, insider David M. Carroll sold 117,704 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $59.02, for a total transaction of $6,946,890.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

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.

5 Day Chart for NYSE:WFC

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