Patriot Financial Group Insurance Agency LLC Reduces Holdings in Wells Fargo & Company (NYSE:WFC)

Patriot Financial Group Insurance Agency LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,872 shares of the financial services provider’s stock after selling 234 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Wells Fargo & Company were worth $3,924,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. National Pension Service lifted its holdings in 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 in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Wells Fargo & Company by 2.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after acquiring an additional 162,066 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Two Sigma Advisers LP raised 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 acquiring an additional 5,237,500 shares in the last quarter. Finally, Canoe Financial LP purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $160,529,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent analyst reports. Barclays raised their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Down 0.1 %

WFC opened at $77.90 on Tuesday. The stock has a market cap of $259.36 billion, a PE ratio of 14.47, a PEG ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average of $73.19 and a 200-day moving average of $64.10. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $78.36.

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