Wells Fargo & Co (WFC) Shares Bought by Klingenstein Fields & Co. LLC

Klingenstein Fields & Co. LLC raised its stake in Wells Fargo & Co (NYSE:WFC) by 5.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 63,204 shares of the financial services provider’s stock after purchasing an additional 3,060 shares during the quarter. Klingenstein Fields & Co. LLC’s holdings in Wells Fargo & Co were worth $3,486,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Boston Partners grew its stake in shares of Wells Fargo & Co by 140.1% in the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after acquiring an additional 11,139,780 shares during the last quarter. Capital World Investors boosted its position in shares of Wells Fargo & Co by 10.8% during the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after buying an additional 10,927,679 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Wells Fargo & Co by 19.7% during the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after buying an additional 7,445,414 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Wells Fargo & Co by 26.7% during the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after buying an additional 6,291,906 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Wells Fargo & Co by 396.3% during the second quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock valued at $326,655,000 after buying an additional 4,707,207 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

In related news, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is currently owned by corporate insiders.

Shares of Wells Fargo & Co (WFC) opened at $62.50 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $307,990.00, a P/E ratio of 15.13, a P/E/G ratio of 1.65 and a beta of 0.96. Wells Fargo & Co has a one year low of $49.27 and a one year high of $63.67.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). The firm had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. analysts anticipate that Wells Fargo & Co will post 4.69 earnings per share for the current fiscal year.

Several equities research analysts recently commented on WFC shares. Sandler O’Neill raised Wells Fargo & Co from a “hold” rating to a “buy” rating and increased their price objective for the company from $62.04 to $73.00 in a research report on Tuesday, January 9th. Vetr downgraded Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $54.49 target price on the stock. in a report on Thursday, November 2nd. Zacks Investment Research raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Buckingham Research raised Wells Fargo & Co from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $57.00 to $75.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $59.00 price objective on shares of Wells Fargo & Co in a research note on Thursday, January 4th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. Wells Fargo & Co presently has a consensus rating of “Hold” and a consensus target price of $61.10.

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Wells Fargo & Co Profile

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.

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

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