Wells Fargo & Co (WFC) Stake Lessened by Morningstar Investment Services LLC

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Morningstar Investment Services LLC lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,797,531 shares of the financial services provider’s stock after selling 97,278 shares during the period. Wells Fargo & Co accounts for about 1.6% of Morningstar Investment Services LLC’s investment portfolio, making the stock its 13th largest position. Morningstar Investment Services LLC’s holdings in Wells Fargo & Co were worth $82,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Olstein Capital Management L.P. increased its position in Wells Fargo & Co by 3.6% in the fourth quarter. Olstein Capital Management L.P. now owns 142,900 shares of the financial services provider’s stock worth $6,585,000 after purchasing an additional 4,900 shares during the last quarter. Summit Wealth & Retirement Planning Inc. bought a new stake in Wells Fargo & Co in the fourth quarter worth $273,000. M3F Inc. bought a new stake in Wells Fargo & Co in the fourth quarter worth $4,631,000. Ruggie Capital Group bought a new stake in Wells Fargo & Co in the fourth quarter worth $80,000. Finally, Commonwealth Bank of Australia increased its position in Wells Fargo & Co by 12.8% in the fourth quarter. Commonwealth Bank of Australia now owns 873,051 shares of the financial services provider’s stock worth $40,225,000 after purchasing an additional 99,250 shares during the last quarter. Hedge funds and other institutional investors own 72.22% of the company’s stock.

WFC stock opened at $46.77 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. Wells Fargo & Co has a twelve month low of $43.02 and a twelve month high of $59.53. The firm has a market cap of $232.86 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.87 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. Wells Fargo & Co had a net margin of 22.95% and a return on equity of 13.34%. The business had revenue of $21.61 billion for the quarter, compared to analysts’ expectations of $20.89 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. As a group, analysts anticipate that Wells Fargo & Co will post 4.93 EPS for the current fiscal year.

Several equities research analysts recently weighed in on WFC shares. Robert W. Baird restated a “buy” rating and issued a $59.00 price target on shares of Wells Fargo & Co in a research report on Wednesday, January 2nd. Morgan Stanley reduced their price target on shares of Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Sunday, January 6th. ValuEngine upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Finally, Credit Suisse Group restated a “hold” rating and issued a $60.00 price target on shares of Wells Fargo & Co in a research report on Friday, January 11th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.45.

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Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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