LifePlan Financial LLC Trims Position in Wells Fargo & Company (NYSE:WFC)

LifePlan Financial LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 34.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,616 shares of the financial services provider’s stock after selling 2,450 shares during the quarter. LifePlan Financial LLC’s holdings in Wells Fargo & Company were worth $324,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the last quarter. Canoe Financial LP purchased a new position in Wells Fargo & Company in the 3rd quarter valued at $160,529,000. Marshall Wace LLP increased its stake in Wells Fargo & Company by 3,295.6% in the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after buying an additional 2,404,898 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after buying an additional 1,659,716 shares during the last quarter. Finally, Artemis Investment Management LLP lifted its stake in shares of Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after acquiring an additional 1,105,679 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $77.22 on Tuesday. The stock has a market capitalization of $257.11 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50-day moving average is $72.83 and its two-hundred day moving average is $63.60.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business earned $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. Equities analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WFC shares. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Tuesday, October 8th. Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.