Marquette Asset Management LLC Sells 656 Shares of Wells Fargo & Company (NYSE:WFC)

Marquette Asset Management LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 20.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,505 shares of the financial services provider’s stock after selling 656 shares during the quarter. Marquette Asset Management LLC’s holdings in Wells Fargo & Company were worth $123,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Northern Trust Corp grew its holdings in Wells Fargo & Company by 0.3% during the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after acquiring 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 third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after purchasing an additional 335,560 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake 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 worth $316,660,000 after purchasing an additional 221,459 shares during the last quarter. Van ECK Associates Corp increased its holdings in Wells Fargo & Company by 19.4% in the third quarter. Van ECK Associates Corp now owns 7,103,120 shares of the financial services provider’s stock valued at $290,234,000 after purchasing an additional 1,156,106 shares during the period. Finally, Nordea Investment Management AB raised its position 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 worth $285,668,000 after purchasing an additional 1,729,132 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a research note on Thursday, January 18th. Citigroup reissued a “neutral” rating and set a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Argus boosted their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Jefferies Financial Group upped their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Evercore ISI lifted their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Stock Down 0.0 %

Shares of WFC traded down $0.02 during trading hours on Friday, reaching $59.91. The stock had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. The firm has a 50-day simple moving average of $56.93 and a 200 day simple moving average of $49.63. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $61.76. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company 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 (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 earnings per share. Equities research analysts predict 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.