Guardian Investment Management reduced its stake in Wells Fargo & Company (NYSE:WFC) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,921 shares of the financial services provider’s stock after selling 4,900 shares during the period. Wells Fargo & Company accounts for about 3.9% of Guardian Investment Management’s portfolio, making the stock its 6th largest position. Guardian Investment Management’s holdings in Wells Fargo & Company were worth $3,558,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arthur M. Cohen & Associates LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at $2,188,000. First Bank & Trust acquired a new position in Wells Fargo & Company during the fourth quarter valued at $1,121,000. Aveo Capital Partners LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at $526,000. AKO Capital LLP acquired a new position in Wells Fargo & Company during the fourth quarter valued at $26,589,000. Finally, Robinson Value Management Ltd. acquired a new position in Wells Fargo & Company during the fourth quarter valued at $1,910,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

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

Wells Fargo & Company (NYSE WFC) opened at 53.89 on Friday. Wells Fargo & Company has a 1-year low of $43.55 and a 1-year high of $59.99. The stock has a market capitalization of $269.31 billion, a PE ratio of 13.47 and a beta of 0.97. The company’s 50 day moving average is $53.38 and its 200-day moving average is $55.27.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Thursday, April 13th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.03. Wells Fargo & Company had a net margin of 23.18% and a return on equity of 12.56%. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.25 billion. During the same period last year, the business earned $0.99 earnings per share. Wells Fargo & Company’s revenue was down .9% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post $4.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 5th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Wednesday, May 3rd. Wells Fargo & Company’s payout ratio is currently 38.00%.

ILLEGAL ACTIVITY WARNING: This report was first posted by Watch List News and is the property of of Watch List News. If you are accessing this report on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this report can be accessed at https://www.watchlistnews.com/wells-fargo-company-wfc-is-guardian-investment-managements-6th-largest-position/1371870.html.

Several research analysts have weighed in on the stock. Credit Suisse Group reiterated a “hold” rating and issued a $56.00 price target on shares of Wells Fargo & Company in a research report on Friday, March 3rd. Vetr upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating and set a $55.28 price objective on the stock in a research report on Tuesday, March 21st. Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Company from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $53.00 to $63.00 in a research report on Wednesday, April 5th. Jefferies Group LLC restated a “hold” rating and set a $62.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, April 5th. Finally, Piper Jaffray Companies upgraded shares of Wells Fargo & Company from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $54.84 to $55.00 in a research report on Monday, April 10th. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $55.37.

In other news, CEO Timothy J. Sloan acquired 39,000 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The stock was purchased at an average cost of $51.65 per share, for a total transaction of $2,014,350.00. Following the completion of the transaction, the chief executive officer now owns 754,581 shares in the company, valued at $38,974,108.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $54.21, for a total transaction of $5,421,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 106,392 shares of company stock valued at $5,526,822 and have sold 231,278 shares valued at $12,361,120. 0.22% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC).

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