Municipal Employees’ Retirement System Of Michigan buys $7,889,769 stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Municipal Employees’ Retirement System Of Michigan scooped up 1,220 additional shares in Wells Fargo & Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 160,950 shares of Wells Fargo & Co which is valued at $7,889,769.Wells Fargo & Co makes up approximately 0.52% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

Other Hedge Funds, Including , Carderock Capital Management Inc boosted its stake in WFC in the latest quarter, The investment management firm added 238 additional shares and now holds a total of 37,910 shares of Wells Fargo & Co which is valued at $1,858,348. Wells Fargo & Co makes up approx 0.97% of Carderock Capital Management Inc’s portfolio.Kornitzer Capital Management Inc Ks boosted its stake in WFC in the latest quarter, The investment management firm added 82,040 additional shares and now holds a total of 254,160 shares of Wells Fargo & Co which is valued at $12,458,923. Wells Fargo & Co makes up approx 0.22% of Kornitzer Capital Management Inc Ks’s portfolio. Sanders Morris Harris added WFC to its portfolio by purchasing 14,338 company shares during the most recent quarter which is valued at $716,613. Wells Fargo & Co makes up approx 0.12% of Sanders Morris Harris’s portfolio.Regent Investment Management boosted its stake in WFC in the latest quarter, The investment management firm added 1,170 additional shares and now holds a total of 10,848 shares of Wells Fargo & Co which is valued at $549,126. Wells Fargo & Co makes up approx 0.30% of Regent Investment Management’s portfolio.Dividend Asset Capital boosted its stake in WFC in the latest quarter, The investment management firm added 316 additional shares and now holds a total of 17,170 shares of Wells Fargo & Co which is valued at $869,145. Wells Fargo & Co makes up approx 0.02% of Dividend Asset Capital’s portfolio.

Wells Fargo & Co opened for trading at $49 and hit $49.51 on the upside on Tuesday, eventually ending the session at $49.4, with a gain of 1.06% or 0.52 points. The heightened volatility saw the trading volume jump to 1,42,34,406 shares. Company has a market cap of $250,806 M.

On the company’s financial health, Wells Fargo & Co reported $0.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 14, 2016. Analyst had a consensus of $0.98. The company had revenue of $22195.00 million for the quarter, compared to analysts expectations of $21524.59 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Wells Fargo & Co. Wells Fargo & Co was Downgraded by Piper Jaffray to ” Underweight” on Apr 15, 2016. Wells Fargo & Co was Downgraded by Sandler O’Neill to ” Hold” on Apr 11, 2016. Wells Fargo & Co was Downgraded by Guggenheim to ” Neutral” on Apr 6, 2016.

Wells Fargo & Company is a financial services and bank holding company. The Company’s segments are Community Banking Wholesale Banking and Wealth and Brokerage and Retirement. The Company’s Community Banking segment offers a range of financial products and services for consumers and small businesses including checking and savings accounts credit and debit cards and auto student and small business lending. The Community Banking segment’s products include investment insurance and trust services and mortgage and home equity loans. The Community Banking segment’s products and business segments include middle market commercial banking government and institutional banking corporate banking and commercial real estate among others. The Company’s Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services.

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