Private Management Group Inc. increased its position in Wells Fargo & Co (NYSE:WFC) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 446,266 shares of the financial services provider’s stock after buying an additional 1,082 shares during the quarter. Private Management Group Inc.’s holdings in Wells Fargo & Co were worth $24,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CNA Financial Corp acquired a new stake in Wells Fargo & Co in the 3rd quarter valued at $1,807,000. Heritage Wealth Advisors increased its holdings in Wells Fargo & Co by 12.6% in the 3rd quarter. Heritage Wealth Advisors now owns 27,115 shares of the financial services provider’s stock valued at $1,495,000 after purchasing an additional 3,025 shares in the last quarter. Allen Investment Management LLC acquired a new stake in shares of Wells Fargo & Co during the third quarter valued at about $484,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Wells Fargo & Co by 1.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,137,449 shares of the financial services provider’s stock valued at $62,730,000 after acquiring an additional 11,336 shares in the last quarter. Finally, Comerica Bank grew its stake in shares of Wells Fargo & Co by 20.2% during the third quarter. Comerica Bank now owns 1,672,928 shares of the financial services provider’s stock valued at $93,433,000 after acquiring an additional 280,576 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wells Fargo & Co (WFC) opened at $63.95 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.90. Wells Fargo & Co has a 12-month low of $49.27 and a 12-month high of $64.31. The company has a market cap of $312,437.09, a PE ratio of 15.71, a PEG ratio of 1.68 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The company had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same period in the previous year, the business posted $0.96 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. research analysts forecast that Wells Fargo & Co will post 4.7 EPS for the current fiscal year.

In other news, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Levy sold 97,000 shares of the stock in a transaction dated 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 have sold 184,482 shares of company stock worth $10,471,050 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Several analysts have recently weighed in on WFC shares. Instinet restated a “buy” rating and set a $65.00 target price (up from $64.00) on shares of Wells Fargo & Co in a research note on Saturday, September 30th. Nomura raised their target price on Wells Fargo & Co from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, September 28th. Citigroup restated a “buy” rating and set a $65.00 target price (up from $60.00) on shares of Wells Fargo & Co in a research note on Monday, October 9th. Robert W. Baird restated a “buy” rating and set a $58.00 target price on shares of Wells Fargo & Co in a research note on Friday, October 6th. Finally, Goldman Sachs Group restated a “buy” rating on shares of Wells Fargo & Co in a research note on Wednesday, October 11th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $61.71.

ILLEGAL ACTIVITY WARNING: This news story was reported by Daily Political and is the property of of Daily Political. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.dailypolitical.com/2018/01/19/private-management-group-inc-raises-position-in-wells-fargo-co-wfc.html.

Wells Fargo & Co 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 & Co (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.