Carmignac Gestion Has $285.77 Million Stake in Wells Fargo & Co (WFC)

Carmignac Gestion cut its stake in shares of Wells Fargo & Co (NYSE:WFC) by 9.2% in the 1st quarter, HoldingsChannel reports. The fund owned 5,452,616 shares of the financial services provider’s stock after selling 550,479 shares during the period. Wells Fargo & Co comprises about 2.0% of Carmignac Gestion’s holdings, making the stock its 22nd largest position. Carmignac Gestion’s holdings in Wells Fargo & Co were worth $285,772,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Koch Industries Inc. purchased a new stake in shares of Wells Fargo & Co during the first quarter valued at $256,000. Cooke & Bieler LP boosted its position in shares of Wells Fargo & Co by 9.1% during the first quarter. Cooke & Bieler LP now owns 1,903,133 shares of the financial services provider’s stock valued at $99,743,000 after buying an additional 159,186 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Wells Fargo & Co by 0.3% during the first quarter. Asset Management One Co. Ltd. now owns 7,573,128 shares of the financial services provider’s stock valued at $396,907,000 after buying an additional 20,587 shares during the last quarter. CI Global Investments Inc. boosted its position in shares of Wells Fargo & Co by 701.6% during the first quarter. CI Global Investments Inc. now owns 2,037,460 shares of the financial services provider’s stock valued at $106,783,000 after buying an additional 1,783,298 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Wells Fargo & Co by 5.9% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,054,196 shares of the financial services provider’s stock valued at $160,070,000 after buying an additional 169,035 shares during the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.

NYSE WFC opened at $55.56 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.86 and a current ratio of 0.88. Wells Fargo & Co has a 52 week low of $49.27 and a 52 week high of $66.31. The stock has a market capitalization of $270.42 billion, a PE ratio of 13.52, a P/E/G ratio of 1.50 and a beta of 1.14.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, April 13th. The financial services provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.07 by $0.05. Wells Fargo & Co had a return on equity of 12.46% and a net margin of 22.80%. The firm had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $21.74 billion. During the same quarter last year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. equities analysts predict that Wells Fargo & Co will post 4.57 EPS for the current fiscal year.

In other news, EVP Petros G. Pelos sold 25,567 shares of the firm’s stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $54.76, for a total value of $1,400,048.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Several research firms recently commented on WFC. Sandler O’Neill reaffirmed a “buy” rating and set a $64.00 price objective on shares of Wells Fargo & Co in a research report on Friday, April 13th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $58.00 price objective on shares of Wells Fargo & Co in a research report on Monday, April 16th. Morgan Stanley raised Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $57.00 to $62.00 in a research report on Monday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $57.00 price objective on shares of Wells Fargo & Co in a research report on Thursday, April 5th. Finally, Susquehanna Bancshares set a $54.00 price objective on Wells Fargo & Co and gave the company a “hold” rating in a research report on Friday, April 13th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. Wells Fargo & Co has an average rating of “Hold” and a consensus price target of $62.05.

Wells Fargo & Co Profile

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 & Co (NYSE:WFC)

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