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

Secure Asset Management LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,067 shares of the financial services provider’s stock after buying an additional 530 shares during the quarter. Secure Asset Management LLC’s holdings in Wells Fargo & Company were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $211,000. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the second quarter worth about $25,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at about $26,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $77.23 on Friday. The stock has a market capitalization of $257.13 billion, a price-to-earnings 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. The business has a 50-day moving average of $73.13 and a 200 day moving average of $63.92. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $78.30.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings data 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WFC shares. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Tuesday, October 8th. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup lifted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average price target of $73.39.

Check Out Our Latest Research Report on Wells Fargo & Company

About Wells Fargo & Company

(Free Report)

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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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