Edge Wealth Management LLC decreased its holdings in Wells Fargo & Co (NYSE:WFC) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,868 shares of the financial services provider’s stock after selling 625 shares during the quarter. Edge Wealth Management LLC’s holdings in Wells Fargo & Co were worth $1,192,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital International Investors raised its holdings in Wells Fargo & Co by 270.1% during the 3rd quarter. Capital International Investors now owns 89,775,252 shares of the financial services provider’s stock valued at $4,718,587,000 after buying an additional 65,517,025 shares during the period. Primecap Management Co. CA raised its stake in shares of Wells Fargo & Co by 47.1% in the third quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock worth $2,024,201,000 after purchasing an additional 12,337,098 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Wells Fargo & Co in the second quarter worth about $321,220,000. OppenheimerFunds Inc. raised its stake in shares of Wells Fargo & Co by 1,283.4% in the third quarter. OppenheimerFunds Inc. now owns 3,087,235 shares of the financial services provider’s stock worth $162,264,000 after purchasing an additional 2,864,065 shares during the last quarter. Finally, Royal London Asset Management Ltd. purchased a new position in shares of Wells Fargo & Co in the second quarter worth about $118,780,000. Institutional investors and hedge funds own 72.97% of the company’s stock.

Shares of Wells Fargo & Co stock traded up $0.12 during trading hours on Friday, reaching $47.87. 1,316,575 shares of the company’s stock were exchanged, compared to its average volume of 24,522,334. Wells Fargo & Co has a 52-week low of $43.02 and a 52-week high of $66.31. The firm has a market cap of $233.16 billion, a PE ratio of 11.65, a P/E/G ratio of 0.84 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.26.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.04). The firm had revenue of $21.94 billion during the quarter, compared to analysts’ expectations of $21.90 billion. Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. Equities research analysts anticipate that Wells Fargo & Co will post 4.49 EPS for the current year.

Wells Fargo & Co declared that its Board of Directors has authorized a stock repurchase program on Tuesday, October 23rd that permits the company to repurchase 350,000,000 outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

WFC has been the topic of several analyst reports. Edward Jones raised Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Macquarie cut their target price on Wells Fargo & Co from $63.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, September 17th. Zacks Investment Research cut Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Wolfe Research assumed coverage on Wells Fargo & Co in a report on Tuesday, September 25th. They issued an “outperform” rating on the stock. Finally, UBS Group set a $63.00 price target on Wells Fargo & Co and gave the stock a “buy” rating in a report on Friday, September 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Wells Fargo & Co has a consensus rating of “Hold” and an average price target of $61.93.

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Wells Fargo & Co Company 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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