Wells Fargo & Company (NYSE:WFC) Shares Sold by Norden Group LLC

Norden Group LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 13.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,343 shares of the financial services provider’s stock after selling 4,134 shares during the quarter. Norden Group LLC’s holdings in Wells Fargo & Company were worth $1,297,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Northern Trust Corp raised its stake in shares of 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 valued at $1,560,755,000 after buying an additional 129,300 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of Wells Fargo & Company by 1.9% during the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock valued at $746,484,000 after buying an additional 335,560 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Wells Fargo & Company by 2.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock valued at $316,660,000 after buying an additional 221,459 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Wells Fargo & Company by 3.9% during the 4th quarter. Van ECK Associates Corp now owns 7,379,417 shares of the financial services provider’s stock valued at $363,215,000 after buying an additional 276,297 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of 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 buying an additional 1,729,132 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.1 %

Shares of NYSE:WFC traded down $0.05 during trading on Tuesday, hitting $59.75. The company’s stock had a trading volume of 9,263,565 shares, compared to its average volume of 18,946,016. The business has a 50 day moving average price of $57.09 and a two-hundred day moving average price of $49.84. The company has a market capitalization of $211.54 billion, a PE ratio of 12.43, a P/E/G 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 has a fifty-two week low of $36.40 and a fifty-two week high of $61.76.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during 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%. During the same quarter in the previous year, the firm posted $1.23 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WFC. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a research note on Thursday, January 18th. Citigroup restated a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Barclays lifted their price target on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Evercore ISI lifted their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Raymond James lifted their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 16th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $58.85.

Wells Fargo & 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.