Acropolis Investment Management LLC Reduces Stock Position in Wells Fargo & Company (NYSE:WFC)


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Acropolis Investment Management LLC reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 25.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,341 shares of the financial services provider’s stock after selling 3,593 shares during the quarter. Acropolis Investment Management LLC’s holdings in Wells Fargo & Company were worth $312,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Wells Fargo & Company during the second quarter worth approximately $1,920,000. B. Riley Wealth Management Inc. increased its position in shares of Wells Fargo & Company by 17.4% in the second quarter. B. Riley Wealth Management Inc. now owns 10,207 shares of the financial services provider’s stock valued at $261,000 after buying an additional 1,516 shares in the last quarter. RMR Wealth Builders acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth $99,000. M Holdings Securities Inc. boosted its position in shares of Wells Fargo & Company by 101.2% in the 2nd quarter. M Holdings Securities Inc. now owns 38,033 shares of the financial services provider’s stock worth $974,000 after buying an additional 19,134 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its stake in Wells Fargo & Company by 31.3% in the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 1,132,010 shares of the financial services provider’s stock valued at $28,979,000 after acquiring an additional 269,800 shares during the last quarter. Institutional investors and hedge funds own 67.25% of the company’s stock.

Shares of NYSE WFC opened at $33.80 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.87 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $20.76 and a 1-year high of $50.74. The company has a market capitalization of $139.75 billion, a price-to-earnings ratio of 91.35, a PEG ratio of 4.84 and a beta of 1.07. The business has a 50-day moving average of $29.96 and a 200-day moving average of $25.75.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.03). The company had revenue of $18.86 billion for the quarter, compared to analyst estimates of $17.87 billion. Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The business’s revenue was down 14.3% on a year-over-year basis. During the same period last year, the firm posted $0.92 earnings per share. Research analysts expect that Wells Fargo & Company will post 0.48 EPS for the current fiscal year.

WFC has been the topic of several research reports. Jefferies Financial Group upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and increased their price target for the company from $26.00 to $38.00 in a research report on Thursday, January 7th. Compass Point upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Friday, November 6th. Deutsche Bank Aktiengesellschaft raised their price target on Wells Fargo & Company from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, January 6th. Morgan Stanley upgraded Wells Fargo & Company from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research report on Monday, November 30th. Finally, Keefe, Bruyette & Woods raised Wells Fargo & Company from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $36.00 in a research note on Monday, December 14th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $32.06.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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

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