Shell Asset Management Co. boosted its stake in shares of Wells Fargo & Co. (NYSE:WFC) by 7.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 897,605 shares of the financial services provider’s stock after buying an additional 65,953 shares during the period. Wells Fargo & Co. comprises about 1.0% of Shell Asset Management Co.’s holdings, making the stock its 12th largest position. Shell Asset Management Co.’s holdings in Wells Fargo & Co. were worth $42,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WFC. Brick & Kyle Associates boosted its position in shares of Wells Fargo & Co. by 10.6% in the first quarter. Brick & Kyle Associates now owns 3,153 shares of the financial services provider’s stock valued at $152,000 after buying an additional 303 shares during the last quarter. Gemmer Asset Management LLC boosted its position in shares of Wells Fargo & Co. by 6.7% in the second quarter. Gemmer Asset Management LLC now owns 3,735 shares of the financial services provider’s stock valued at $177,000 after buying an additional 234 shares during the last quarter. Ironwood Financial llc purchased a new position in shares of Wells Fargo & Co. during the first quarter valued at $182,000. Financial Advisory Group boosted its position in shares of Wells Fargo & Co. by 0.5% in the first quarter. Financial Advisory Group now owns 4,264 shares of the financial services provider’s stock valued at $206,000 after buying an additional 22 shares during the last quarter. Finally, Bollard Group LLC boosted its position in shares of Wells Fargo & Co. by 0.8% in the second quarter. Bollard Group LLC now owns 4,411 shares of the financial services provider’s stock valued at $209,000 after buying an additional 33 shares during the last quarter. 73.94% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded down 0.47% on Monday, hitting $44.50. The stock had a trading volume of 18,861,278 shares. The firm has a market cap of $224.53 billion, a P/E ratio of 10.99 and a beta of 0.91. Wells Fargo & Co. has a 12-month low of $43.55 and a 12-month high of $56.34. The company’s 50-day moving average price is $46.61 and its 200 day moving average price is $48.03.

Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.02. Wells Fargo & Co. had a return on equity of 12.72% and a net margin of 23.91%. The business earned $22.30 billion during the quarter. During the same quarter last year, the firm posted $1.05 earnings per share. Wells Fargo & Co.’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Co. will post $4.02 earnings per share for the current fiscal year.

WFC has been the topic of a number of recent analyst reports. Atlantic Securities cut shares of Wells Fargo & Co. from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $46.15 to $44.00 in a research report on Friday, September 16th. Rafferty Capital Markets cut shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research report on Friday, September 9th. Zacks Investment Research raised shares of Wells Fargo & Co. from a “sell” rating to a “hold” rating in a research report on Monday, July 4th. Sandler O’Neill reaffirmed a “hold” rating on shares of Wells Fargo & Co. in a research report on Friday, September 30th. Finally, Raymond James Financial Inc. cut shares of Wells Fargo & Co. from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 4th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $49.73.

In other news, COO Timothy J. Sloan sold 20,500 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the completion of the sale, the chief operating officer now directly owns 650,815 shares in the company, valued at approximately $31,837,869.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

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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