Livingston Group Asset Management CO operating as Southport Capital Management Grows Stock Position in Wells Fargo & Company (NYSE:WFC)


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Livingston Group Asset Management CO operating as Southport Capital Management lifted its stake in Wells Fargo & Company (NYSE:WFC) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,789 shares of the financial services provider’s stock after acquiring an additional 950 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Wells Fargo & Company were worth $477,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pacifica Partners Inc. increased its holdings in Wells Fargo & Company by 27.0% during the 3rd quarter. Pacifica Partners Inc. now owns 1,883 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 400 shares during the period. Provident Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $45,000. CVA Family Office LLC boosted its position in shares of Wells Fargo & Company by 100.0% in the 3rd quarter. CVA Family Office LLC now owns 2,000 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,000 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in Wells Fargo & Company by 32.3% in the 3rd quarter. Banque Cantonale Vaudoise now owns 2,704 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 660 shares in the last quarter. Finally, ELM Advisors LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $69,000. 67.25% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company stock opened at $33.80 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.87 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $20.76 and a 1-year high of $50.74. The firm has a market capitalization of $139.75 billion, a P/E ratio of 91.35, a price-to-earnings-growth ratio of 4.84 and a beta of 1.07. The company’s 50-day moving average is $29.96 and its 200 day moving average is $25.75.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The firm had revenue of $18.86 billion during the quarter, compared to analysts’ expectations of $17.87 billion. During the same period last year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 0.48 earnings per share for the current fiscal year.

A number of brokerages have weighed in on WFC. Jefferies Financial Group upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and boosted their target price for the company from $26.00 to $38.00 in a research note on Thursday, January 7th. Piper Sandler upped their target price on shares of Wells Fargo & Company from $25.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, December 21st. Keefe, Bruyette & Woods raised shares of Wells Fargo & Company from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $36.00 in a report on Monday, December 14th. ValuEngine raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating in a report on Wednesday, November 25th. Finally, Barclays increased their price objective on shares of Wells Fargo & Company from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $32.06.

Wells Fargo & Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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

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