Strategic Investment Advisors MI Trims Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Strategic Investment Advisors MI decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,506 shares of the financial services provider’s stock after selling 1,325 shares during the period. Strategic Investment Advisors MI’s holdings in Wells Fargo & Company were worth $878,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Beaird Harris Wealth Management LLC boosted its position in shares of Wells Fargo & Company by 54.5% in the second quarter. Beaird Harris Wealth Management LLC now owns 865 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 305 shares during the period. Kathmere Capital Management LLC boosted its position in shares of Wells Fargo & Company by 7.5% in the second quarter. Kathmere Capital Management LLC now owns 8,508 shares of the financial services provider’s stock valued at $505,000 after acquiring an additional 592 shares during the period. Ascent Group LLC boosted its position in shares of Wells Fargo & Company by 9.4% in the second quarter. Ascent Group LLC now owns 38,934 shares of the financial services provider’s stock valued at $2,312,000 after acquiring an additional 3,347 shares during the period. Annandale Capital LLC boosted its position in shares of Wells Fargo & Company by 1.2% in the second quarter. Annandale Capital LLC now owns 19,142 shares of the financial services provider’s stock valued at $1,137,000 after acquiring an additional 234 shares during the period. Finally, Aviso Wealth Management boosted its position in shares of Wells Fargo & Company by 4.3% in the second quarter. Aviso Wealth Management now owns 11,227 shares of the financial services provider’s stock valued at $667,000 after acquiring an additional 459 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of several research analyst reports. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, October 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Down 0.3 %

NYSE:WFC opened at $77.23 on Monday. The firm’s 50-day moving average price is $73.19 and its 200-day moving average price is $64.07. The company has a market capitalization of $257.13 billion, a PE ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.30.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.