Delta Investment Management LLC Grows Stake in Wells Fargo & Company (NYSE:WFC)

Delta Investment Management LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,320 shares of the financial services provider’s stock after purchasing an additional 384 shares during the period. Delta Investment Management LLC’s holdings in Wells Fargo & Company were worth $360,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WFC. Panagora Asset Management Inc. grew its position in shares of Wells Fargo & Company by 131.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock valued at $141,124,000 after purchasing an additional 1,958,483 shares in the last quarter. Nordea Investment Management AB grew its position 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 purchasing an additional 1,729,132 shares in the last quarter. Artemis Investment Management LLP grew its position in shares of Wells Fargo & Company by 87.8% during the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock valued at $163,160,000 after purchasing an additional 1,549,979 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $54,894,000. Finally, Canada Pension Plan Investment Board grew its position in shares of Wells Fargo & Company by 37.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock valued at $174,078,000 after purchasing an additional 1,166,000 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.0 %

Shares of NYSE:WFC traded down $0.02 during midday trading on Friday, hitting $59.91. 18,785,900 shares of the stock traded hands, compared to its average volume of 18,078,044. The stock has a market capitalization of $212.11 billion, a PE ratio of 12.51, a P/E/G ratio of 1.16 and a beta of 1.19. The business’s 50 day moving average is $56.93 and its two-hundred day moving average is $49.56. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a one year low of $36.40 and a one year high of $61.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the company earned $1.23 earnings per share. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WFC shares. Citigroup reaffirmed a “neutral” rating and set a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Wells Fargo & Company in a report on Monday, January 8th. Finally, Barclays lifted their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average 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.