Manitou Investment Management Ltd. increased its holdings in Wells Fargo & Company (NYSE:WFC) by 39.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,943 shares of the financial services provider’s stock after buying an additional 129,778 shares during the quarter. Wells Fargo & Company comprises 7.5% of Manitou Investment Management Ltd.’s portfolio, making the stock its 3rd largest holding. Manitou Investment Management Ltd.’s holdings in Wells Fargo & Company were worth $25,541,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Davis Selected Advisers boosted its stake in Wells Fargo & Company by 1.9% during the 2nd quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock valued at $1,438,821,000 after purchasing an additional 472,585 shares in the last quarter. Harris Associates L P boosted its stake in Wells Fargo & Company by 1.2% during the 1st quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock valued at $1,324,492,000 after purchasing an additional 286,710 shares in the last quarter. Boston Partners boosted its stake in Wells Fargo & Company by 140.1% during the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after purchasing an additional 11,139,780 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Wells Fargo & Company by 4.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 14,919,302 shares of the financial services provider’s stock valued at $826,679,000 after purchasing an additional 607,497 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Wells Fargo & Company by 1.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,648,271 shares of the financial services provider’s stock valued at $756,251,000 after purchasing an additional 232,417 shares in the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.

In other news, insider Michael J. Loughlin sold 17,482 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Levy sold 97,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Insiders sold 184,482 shares of company stock valued at $10,471,050 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Wells Fargo & Company (NYSE:WFC) traded up $0.02 on Thursday, hitting $58.57. The stock had a trading volume of 26,758,300 shares, compared to its average volume of 18,356,119. The stock has a market capitalization of $288,315.47, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.41 and a beta of 0.96. Wells Fargo & Company has a one year low of $49.27 and a one year high of $59.99. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. Wells Fargo & Company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 EPS. equities analysts expect that Wells Fargo & Company will post 3.97 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were issued a $0.39 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.66%. Wells Fargo & Company’s payout ratio is currently 40.31%.

A number of equities research analysts have recently commented on WFC shares. Vertical Group upgraded Wells Fargo & Company from a “sell” rating to a “buy” rating in a research report on Thursday. Vetr upgraded Wells Fargo & Company from a “sell” rating to a “strong-buy” rating in a research report on Monday, November 6th. Zacks Investment Research upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Goldman Sachs Group reiterated a “buy” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 11th. Finally, Robert W. Baird reiterated a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & Company in a research report on Friday, October 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $57.25.

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Wells Fargo & Company Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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