Quantinno Capital Management LP Purchases 199,510 Shares of Wells Fargo & Company $WFC

Quantinno Capital Management LP grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 17.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,315,171 shares of the financial services provider’s stock after acquiring an additional 199,510 shares during the period. Quantinno Capital Management LP’s holdings in Wells Fargo & Company were worth $104,701,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Godfrey Financial Associates Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth $25,000. Miller Capital Partners Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $25,000. Navalign LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $26,000. Joseph Group Capital Management purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. Finally, Phillip James Consulting Co. purchased a new position in shares of Wells Fargo & Company in the first quarter worth about $28,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WFC has been the subject of several analyst reports. Keefe, Bruyette & Woods dropped their target price on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a report on Wednesday, July 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. Morgan Stanley boosted their price objective on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, KGI Securities lowered Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.50.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $87.28 on Tuesday. The company has a market cap of $267.08 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. The company has a 50-day moving average price of $82.97 and a 200-day moving average price of $83.35. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.