Secure Asset Management LLC Raises Holdings in Wells Fargo & Company (NYSE:WFC)

Secure Asset Management LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,067 shares of the financial services provider’s stock after buying an additional 530 shares during the period. Secure Asset Management LLC’s holdings in Wells Fargo & Company were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of WFC. National Pension Service lifted its stake in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after purchasing an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after purchasing an additional 162,066 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after buying an additional 575,892 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares in the last quarter. Finally, Canoe Financial LP purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $160,529,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC opened at $77.23 on Friday. The business’s 50-day moving average is $73.13 and its two-hundred day moving average is $63.92. The company has a market capitalization of $257.13 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.30. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

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