Wells Fargo & Company (NYSE:WFC) Shares Sold by McCarthy Asset Management Inc.

McCarthy Asset Management Inc. decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,201 shares of the financial services provider’s stock after selling 241 shares during the period. Wells Fargo & Company accounts for approximately 0.3% of McCarthy Asset Management Inc.’s portfolio, making the stock its 24th biggest holding. McCarthy Asset Management Inc.’s holdings in Wells Fargo & Company were worth $502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in shares of Wells Fargo & Company by 0.3% during the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after buying an additional 129,300 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Wells Fargo & Company by 1.9% in the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock valued at $746,484,000 after purchasing an additional 335,560 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Wells Fargo & Company by 2.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock valued at $316,660,000 after purchasing an additional 221,459 shares during the period. Van ECK Associates Corp raised its stake in shares of Wells Fargo & Company by 19.4% during the third quarter. Van ECK Associates Corp now owns 7,103,120 shares of the financial services provider’s stock worth $290,234,000 after purchasing an additional 1,156,106 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Wells Fargo & Company by 42.7% during the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after purchasing an additional 1,729,132 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WFC. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $51.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Argus upped their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, Barclays raised their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Thirteen investment 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’s stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Stock Down 0.0 %

Shares of WFC stock traded down $0.02 on Friday, hitting $59.91. The company’s stock had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. The stock has a market capitalization 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 has a fifty-two week low of $36.40 and a fifty-two week high of $61.76. The firm’s fifty day moving average price is $56.93 and its 200-day moving average price is $49.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current year.

Wells Fargo & Company Profile

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.