Alaska Permanent Fund Corp Lowers Position in Wells Fargo & Company (NYSE:WFC)

Alaska Permanent Fund Corp lessened its stake in Wells Fargo & Company (NYSE:WFC) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,733 shares of the financial services provider’s stock after selling 567 shares during the period. Alaska Permanent Fund Corp’s holdings in Wells Fargo & Company were worth $2,694,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WFC. First Financial Corp IN increased its stake in shares of Wells Fargo & Company by 4.9% in the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 214 shares during the last quarter. CX Institutional grew its holdings in shares of Wells Fargo & Company by 1.1% during the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 217 shares during the period. ERTS Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 3.5% during the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 228 shares during the period. Prio Wealth Limited Partnership grew its holdings in shares of Wells Fargo & Company by 1.7% during the 4th quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 233 shares during the period. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Wells Fargo & Company by 19.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 244 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC traded down $0.44 during trading on Thursday, reaching $60.16. 2,565,819 shares of the stock were exchanged, compared to its average volume of 18,828,977. The business’s 50 day moving average price is $56.61 and its two-hundred day moving average price is $49.34. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $212.99 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $61.76.

Wells Fargo & Company (NYSE:WFC) last posted 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 company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WFC shares. HSBC raised their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Evercore ISI raised their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Barclays raised their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research note on Monday, January 8th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $58.85.

About Wells Fargo & Company

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.