Hi Line Capital Management LLC lessened its stake in shares of Wells Fargo & Co (NYSE:WFC) by 0.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 151,022 shares of the financial services provider’s stock after selling 540 shares during the quarter. Wells Fargo & Co comprises about 3.5% of Hi Line Capital Management LLC’s portfolio, making the stock its 10th largest holding. Hi Line Capital Management LLC’s holdings in Wells Fargo & Co were worth $7,297,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. Orrstown Financial Services Inc. grew its position in Wells Fargo & Co by 125.9% in the 1st quarter. Orrstown Financial Services Inc. now owns 515 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 287 shares during the last quarter. Horan Capital Advisors LLC. bought a new position in Wells Fargo & Co in the 1st quarter valued at $27,000. Brand Asset Management Group Inc. grew its position in Wells Fargo & Co by 96.8% in the 1st quarter. Brand Asset Management Group Inc. now owns 492 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 242 shares during the last quarter. Nalls Sherbakoff Group LLC bought a new position in Wells Fargo & Co in the 4th quarter valued at $32,000. Finally, SevenBridge Financial Group LLC grew its position in Wells Fargo & Co by 500.0% in the 4th quarter. SevenBridge Financial Group LLC now owns 1,200 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 75.35% of the company’s stock.

In related news, insider Petros G. Pelos sold 28,304 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $46.51, for a total transaction of $1,316,419.04. Following the sale, the insider now owns 3,066 shares of the company’s stock, valued at $142,599.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is owned by company insiders.

Several equities analysts have commented on WFC shares. Deutsche Bank cut their price objective on Wells Fargo & Co from $54.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Atlantic Securities downgraded Wells Fargo & Co from a “neutral” rating to an “underweight” rating and set a $42.00 price target on the stock. in a research report on Tuesday, June 11th. Raymond James raised Wells Fargo & Co from an “underperform” rating to a “market perform” rating and set a $50.08 price target on the stock in a research report on Friday, March 29th. Barclays dropped their price target on Wells Fargo & Co from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Finally, Bank of America downgraded Wells Fargo & Co from a “buy” rating to a “neutral” rating in a research report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $55.39.

Shares of WFC stock opened at $45.59 on Monday. Wells Fargo & Co has a 1-year low of $43.02 and a 1-year high of $59.53. The stock has a market cap of $204.90 billion, a P/E ratio of 10.41, a P/E/G ratio of 0.87 and a beta of 1.08. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.88.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. The company had revenue of $21.61 billion for the quarter, compared to the consensus estimate of $20.89 billion. During the same quarter last year, the company earned $0.96 earnings per share. On average, equities analysts anticipate that Wells Fargo & Co will post 4.72 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Co’s payout ratio is currently 41.10%.

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About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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