Wells Fargo & Co (WFC) Stake Lessened by Hoylecohen LLC

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Hoylecohen LLC cut its stake in shares of Wells Fargo & Co (NYSE:WFC) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,439 shares of the financial services provider’s stock after selling 2,625 shares during the period. Hoylecohen LLC’s holdings in Wells Fargo & Co were worth $2,048,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its position in Wells Fargo & Co by 4,415.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,790,126 shares of the financial services provider’s stock valued at $473,000 after buying an additional 21,307,608 shares during the period. Standard Life Aberdeen plc raised its position in Wells Fargo & Co by 75.7% during the fourth quarter. Standard Life Aberdeen plc now owns 6,606,543 shares of the financial services provider’s stock valued at $300,795,000 after buying an additional 2,847,214 shares during the period. Geode Capital Management LLC raised its position in Wells Fargo & Co by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 51,636,368 shares of the financial services provider’s stock valued at $2,375,189,000 after buying an additional 2,114,810 shares during the period. Magnolia Group LLC raised its position in Wells Fargo & Co by 82.4% during the fourth quarter. Magnolia Group LLC now owns 4,114,450 shares of the financial services provider’s stock valued at $189,594,000 after buying an additional 1,858,550 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Wells Fargo & Co by 93.6% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,032,336 shares of the financial services provider’s stock valued at $139,730,000 after buying an additional 1,465,860 shares during the period. 72.22% of the stock is currently owned by institutional investors.

Shares of NYSE WFC opened at $46.77 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. Wells Fargo & Co has a one year low of $43.02 and a one year high of $59.53. The stock has a market capitalization of $232.86 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.87 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. Wells Fargo & Co had a return on equity of 13.34% and a net margin of 22.95%. The firm had revenue of $21.61 billion for the quarter, compared to the consensus estimate of $20.89 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Co will post 4.93 EPS for the current fiscal year.

Several research analysts recently weighed in on the company. ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Goldman Sachs Group lowered Wells Fargo & Co from a “buy” rating to a “neutral” rating and dropped their price target for the company from $58.00 to $48.00 in a research report on Friday. Barclays dropped their price target on Wells Fargo & Co from $66.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 2nd. Morgan Stanley dropped their price target on Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Deutsche Bank dropped their price target on Wells Fargo & Co from $54.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $56.45.

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Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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