Wells Fargo & Co (WFC) Shares Sold by Ruane Cunniff & Goldfarb Inc.

Ruane Cunniff & Goldfarb Inc. lowered its position in shares of Wells Fargo & Co (NYSE:WFC) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,213,029 shares of the financial services provider’s stock after selling 251,788 shares during the period. Wells Fargo & Co accounts for approximately 2.7% of Ruane Cunniff & Goldfarb Inc.’s portfolio, making the stock its 14th largest position. Ruane Cunniff & Goldfarb Inc.’s holdings in Wells Fargo & Co were worth $287,290,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in WFC. Asset Management One Co. Ltd. increased its position in shares of Wells Fargo & Co by 873.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 8,502,947 shares of the financial services provider’s stock worth $468,414,000 after buying an additional 7,629,019 shares in the last quarter. FIL Ltd increased its position in shares of Wells Fargo & Co by 230.5% in the fourth quarter. FIL Ltd now owns 8,182,986 shares of the financial services provider’s stock worth $450,964,000 after buying an additional 5,706,977 shares in the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of Wells Fargo & Co during the third quarter worth $235,404,000. Vantage Investment Partners LLC increased its position in shares of Wells Fargo & Co by 188.2% in the third quarter. Vantage Investment Partners LLC now owns 3,295,535 shares of the financial services provider’s stock worth $145,926,000 after buying an additional 2,152,057 shares in the last quarter. Finally, Equity Investment Corp Acquisition Inc acquired a new position in shares of Wells Fargo & Co during the fourth quarter worth $118,290,000. 73.25% of the stock is owned by institutional investors and hedge funds.

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

Shares of Wells Fargo & Co (NYSE:WFC) opened at 55.39 on Tuesday. Wells Fargo & Co has a 12 month low of $43.55 and a 12 month high of $59.99. The stock’s 50 day moving average is $57.72 and its 200 day moving average is $52.52. The company has a market capitalization of $277.14 billion, a P/E ratio of 13.88 and a beta of 0.98.

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

The company also recently disclosed 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 was Wednesday, February 1st. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 38.10%.

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A number of equities analysts have weighed in on WFC shares. Deutsche Bank AG raised their target price on shares of Wells Fargo & Co from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, November 30th. Zacks Investment Research downgraded shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a research note on Saturday, December 31st. Vetr downgraded shares of Wells Fargo & Co from a “sell” rating to a “strong sell” rating and set a $48.64 target price for the company. in a research note on Monday, December 26th. Instinet reaffirmed a “buy” rating and set a $51.00 target price on shares of Wells Fargo & Co in a research note on Wednesday, January 11th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $52.00 target price on shares of Wells Fargo & Co in a research note on Wednesday, January 11th. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $53.30.

In other Wells Fargo & Co news, insider David M. Carroll sold 117,704 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $59.02, for a total transaction of $6,946,890.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

About Wells Fargo & Co

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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