Strategic Investment Advisors MI Sells 1,325 Shares of Wells Fargo & Company (NYSE:WFC)

Strategic Investment Advisors MI lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.6% during the 4th quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Drive Wealth Management LLC lifted its stake in Wells Fargo & Company by 3.4% during the 4th quarter. Drive Wealth Management LLC now owns 24,972 shares of the financial services provider’s stock valued at $1,754,000 after acquiring an additional 823 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $35,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Wells Fargo & Company by 5.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 22,758 shares of the financial services provider’s stock valued at $1,599,000 after purchasing an additional 1,253 shares during the last quarter. SWP Financial LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $253,000. Finally, Clarendon Private LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $847,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.3 %

NYSE:WFC opened at $77.23 on Monday. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.30. The company has a 50-day moving average of $73.19 and a 200 day moving average of $64.07. The firm has a market cap of $257.13 billion, a PE ratio of 14.35, a price-to-earnings-growth 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 (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 earnings per share. As a group, research analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WFC has been the subject of several research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group boosted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.39.

About Wells Fargo & Company

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.