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

Baldwin Investment Management LLC decreased its position in Wells Fargo & Co (NYSE:WFC) by 3.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 20,018 shares of the financial services provider’s stock after selling 800 shares during the period. Wells Fargo & Co makes up 0.4% of Baldwin Investment Management LLC’s portfolio, 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.

A number of other hedge funds also recently modified their holdings of the company. Gyroscope Capital Management Group LLC bought a new stake in shares of Wells Fargo & Co during the fourth quarter worth about $4,685,000. Good Life Advisors LLC bought a new stake in shares of Wells Fargo & Co during the fourth quarter worth about $666,000. Asset Management One Co. Ltd. boosted its stake 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 during the period. Greytown Advisors Inc. bought a new stake in shares of Wells Fargo & Co during the fourth quarter worth about $285,000. Finally, Aviva PLC boosted its stake in shares of Wells Fargo & Co by 3.1% in the fourth quarter. Aviva PLC now owns 3,567,763 shares of the financial services provider’s stock worth $196,691,000 after buying an additional 105,712 shares during the period. 73.25% of the stock is currently 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 57.63 on Tuesday. The firm has a 50-day moving average price of $57.80 and a 200 day moving average price of $52.28. Wells Fargo & Co has a 12-month low of $43.55 and a 12-month high of $59.99. The stock has a market cap of $288.34 billion, a PE ratio of 14.44 and a beta of 0.98.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.04. The business earned $21.60 billion during the quarter. Wells Fargo & Co had a return on equity of 12.60% and a net margin of 23.30%. Wells Fargo & Co’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. Equities research analysts expect that Wells Fargo & Co will post $4.20 earnings per share for the current year.

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

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A number of equities analysts have weighed in on WFC shares. Credit Suisse Group AG restated a “hold” rating and issued a $56.00 target price on shares of Wells Fargo & Co in a research note on Friday, March 3rd. Zacks Investment Research lowered Wells Fargo & Co from a “buy” rating to a “hold” rating in a research note on Monday, February 6th. Argus lowered Wells Fargo & Co from a “buy” rating to a “hold” rating and upped their target price for the stock from $53.00 to $53.78 in a research note on Wednesday, January 18th. FBR & Co restated a “market perform” rating and issued a $55.00 target price on shares of Wells Fargo & Co in a research note on Tuesday, January 17th. Finally, CLSA restated an “outperform” rating and issued a $64.00 target price on shares of Wells Fargo & Co in a research note on Friday, January 13th. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.01.

In other news, insider David M. Carroll sold 117,704 shares of Wells Fargo & Co stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $59.02, for a total value of $6,946,890.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.

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