Marco Investment Management LLC Sells 732 Shares of Wells Fargo & Company (NYSE:WFC)

Marco Investment Management LLC lessened its stake in Wells Fargo & Company (NYSE:WFC) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,701 shares of the financial services provider’s stock after selling 732 shares during the quarter. Marco Investment Management LLC’s holdings in Wells Fargo & Company were worth $1,363,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WFC. Panagora Asset Management Inc. raised its holdings in shares of Wells Fargo & Company by 131.0% in the 3rd quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock worth $141,124,000 after purchasing an additional 1,958,483 shares during the period. Nordea Investment Management AB raised its holdings in Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after acquiring an additional 1,729,132 shares during the period. Artemis Investment Management LLP raised its holdings in Wells Fargo & Company by 87.8% during the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock valued at $163,160,000 after acquiring an additional 1,549,979 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Wells Fargo & Company during the 3rd quarter valued at $54,894,000. Finally, Canada Pension Plan Investment Board raised its holdings in Wells Fargo & Company by 37.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock valued at $174,078,000 after acquiring an additional 1,166,000 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.2 %

Shares of NYSE:WFC opened at $59.80 on Monday. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $61.76. The firm has a fifty day moving average of $56.93 and a 200 day moving average of $49.70. The firm has a market capitalization of $211.72 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. 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 (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The company’s revenue was up .6% on a year-over-year basis. As a group, research analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of analyst reports. Piper Sandler lowered their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Jefferies Financial Group boosted their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Robert W. Baird restated a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a research report on Monday, January 8th. The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Evercore ISI boosted their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research report 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $58.85.

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.