Check Capital Management Inc. CA Reduces Holdings in Wells Fargo (WFC)

Check Capital Management Inc. CA trimmed its holdings in shares of Wells Fargo (NYSE:WFC) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,347,908 shares of the financial services provider’s stock after selling 65,783 shares during the period. Wells Fargo accounts for 4.5% of Check Capital Management Inc. CA’s portfolio, making the stock its 2nd biggest position. Check Capital Management Inc. CA’s holdings in Wells Fargo were worth $81,778,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Capital World Investors grew its position in shares of Wells Fargo by 10.8% during the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after acquiring an additional 10,927,679 shares during the last quarter. Capital Research Global Investors grew its position in shares of Wells Fargo by 19.7% during the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after acquiring an additional 7,445,414 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Wells Fargo by 26.7% during the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock worth $1,653,464,000 after acquiring an additional 6,291,906 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Wells Fargo by 396.3% during the second quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock worth $326,655,000 after acquiring an additional 4,707,207 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Wells Fargo by 1.2% during the second quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock worth $17,440,601,000 after acquiring an additional 3,621,402 shares during the last quarter. 77.33% of the stock is currently owned by institutional investors.

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In other Wells Fargo news, Director Ronald Sargent acquired 9,000 shares of Wells Fargo stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $55.98 per share, for a total transaction of $503,820.00. Following the transaction, the director now owns 81 shares in the company, valued at approximately $4,534.38. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

NYSE:WFC opened at $52.23 on Friday. Wells Fargo has a twelve month low of $49.27 and a twelve month high of $66.31. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88. The stock has a market cap of $259,789.17, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.40 and a beta of 1.13.

Wells Fargo (NYSE:WFC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). Wells Fargo had a net margin of 22.57% and a return on equity of 12.24%. The business had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same quarter last year, the business posted $0.96 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. equities research analysts expect that Wells Fargo will post 4.7 earnings per share for the current year.

Wells Fargo declared that its board has authorized a stock buyback plan on Tuesday, January 23rd that allows the company to buyback 350,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Several equities analysts have recently commented on the stock. UBS upgraded shares of Wells Fargo from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Thursday. Keefe, Bruyette & Woods restated a “hold” rating and set a $57.00 price target on shares of Wells Fargo in a research report on Thursday. Vetr upgraded shares of Wells Fargo from a “sell” rating to a “hold” rating and set a $54.10 price target for the company in a research report on Thursday. Zacks Investment Research lowered shares of Wells Fargo from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Finally, Morgan Stanley lowered shares of Wells Fargo from an “overweight” rating to an “underweight” rating and lowered their price target for the stock from $75.00 to $64.00 in a research report on Tuesday, February 6th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $62.31.

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About Wells Fargo

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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