Russell Investments Group Ltd. Decreases Holdings in Wells Fargo & Company (NYSE:WFC)

Russell Investments Group Ltd. trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 12.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,614,534 shares of the financial services provider’s stock after selling 683,340 shares during the period. Russell Investments Group Ltd.’s holdings in Wells Fargo & Company were worth $227,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Fortis Group Advisors LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter worth about $25,000. Arlington Trust Co LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. lifted its holdings in Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WFC shares. Piper Sandler reduced their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Robert W. Baird reissued a “neutral” rating and issued a $55.00 target price on shares of Wells Fargo & Company in a report on Monday, January 8th. Finally, Evercore ISI upped their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Stock Performance

NYSE WFC traded down $0.02 on Friday, hitting $59.91. 18,785,900 shares of the company’s stock were exchanged, compared to its average volume of 18,078,044. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The firm’s 50-day moving average price is $56.93 and its two-hundred day moving average price is $49.56. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $61.76. The firm has a market cap of $212.11 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.16 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 5.06 EPS for the current year.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.