CNA Financial Corp Acquires New Stake in Wells Fargo & Co (WFC)

CNA Financial Corp acquired a new position in shares of Wells Fargo & Co (NYSE:WFC) in the 3rd quarter, HoldingsChannel reports. The fund acquired 32,770 shares of the financial services provider’s stock, valued at approximately $1,807,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Wells Fargo & Co by 1.2% in the second quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after purchasing an additional 3,621,402 shares in the last quarter. Capital World Investors grew its position in Wells Fargo & Co by 10.8% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares in the last quarter. Capital Research Global Investors grew its position in Wells Fargo & Co by 19.7% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after purchasing an additional 7,445,414 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Wells Fargo & Co by 26.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after purchasing an additional 6,291,906 shares in the last quarter. Finally, Davis Selected Advisers grew its position in Wells Fargo & Co by 1.9% in the second 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. 75.71% of the stock is owned by institutional investors.

Wells Fargo & Co (NYSE:WFC) opened at $63.95 on Friday. 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 $315,140.00, a PE ratio of 15.48, a PEG ratio of 1.65 and a beta of 0.96. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The firm had revenue of $22.05 billion during the quarter, compared to the consensus estimate of $22.64 billion. During the same period last year, the business earned $0.96 EPS. The business’s revenue was up 2.2% on a year-over-year basis. sell-side analysts expect that Wells Fargo & Co will post 4.66 earnings per share for the current year.

A number of research analysts recently weighed in on WFC shares. Sandler O’Neill raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and raised their target price for the company from $62.04 to $73.00 in a research report on Tuesday, January 9th. Vertical Group raised shares of Wells Fargo & Co from a “sell” rating to a “buy” rating in a research report on Thursday, December 7th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Wells Fargo & Co in a research report on Wednesday, October 11th. BMO Capital Markets reaffirmed a “hold” rating and issued a $59.00 target price on shares of Wells Fargo & Co in a research report on Thursday, January 4th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $60.00 target price on shares of Wells Fargo & Co in a research report on Wednesday, November 15th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $61.71.

In other news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Co stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. In the last three months, insiders sold 184,482 shares of company stock valued at $10,471,050. Insiders own 0.22% of the company’s stock.

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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.

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 & Co (NYSE:WFC).

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

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