Alaska Permanent Fund Corp Has $2.69 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Alaska Permanent Fund Corp cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,733 shares of the financial services provider’s stock after selling 567 shares during the period. Alaska Permanent Fund Corp’s holdings in Wells Fargo & Company were worth $2,694,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Summit Global Investments raised its position in shares of Wells Fargo & Company by 6.3% in the third quarter. Summit Global Investments now owns 5,753 shares of the financial services provider’s stock valued at $235,000 after buying an additional 343 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in Wells Fargo & Company in the third quarter valued at approximately $34,000. Exchange Traded Concepts LLC grew its stake in shares of Wells Fargo & Company by 12.7% during the third quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the financial services provider’s stock worth $153,000 after buying an additional 424 shares during the last quarter. Boston Trust Walden Corp grew its stake in shares of Wells Fargo & Company by 7.4% in the third quarter. Boston Trust Walden Corp now owns 14,515 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its stake in shares of Wells Fargo & Company by 48.4% in the third quarter. Washington Trust Advisors Inc. now owns 7,050 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 2,300 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on WFC shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Robert W. Baird reiterated a “neutral” rating and set a $55.00 price objective on shares of Wells Fargo & Company in a report on Monday, January 8th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Citigroup reiterated a “neutral” rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Finally, Jefferies Financial Group upped their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Stock Down 0.7 %

Shares of WFC traded down $0.44 on Thursday, hitting $60.16. 2,565,819 shares of the stock traded hands, compared to its average volume of 18,828,977. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a one year low of $36.40 and a one year high of $61.76. The company has a market capitalization of $212.99 billion, a PE ratio of 12.65, a P/E/G ratio of 1.18 and a beta of 1.19. The business has a 50 day simple moving average of $56.61 and a 200 day simple moving average of $49.34.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company 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.