Private Management Group Inc. Purchases 500 Shares of Wells Fargo & Company (NYSE:WFC)

Private Management Group Inc. grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 22,160 shares of the financial services provider’s stock after acquiring an additional 500 shares during the period. Private Management Group Inc.’s holdings in Wells Fargo & Company were worth $1,091,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Fortis Group Advisors LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at about $25,000. Arlington Trust Co LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. lifted its holdings in Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $32,000. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WFC has been the subject of a number of research analyst reports. Citigroup restated a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Evercore ISI raised their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Robert W. Baird restated a “neutral” rating and issued a $55.00 target price on shares of Wells Fargo & Company in a research note on Monday, January 8th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Raymond James raised their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded down $0.34 on Wednesday, reaching $60.60. The stock had a trading volume of 19,633,805 shares, compared to its average volume of 19,001,326. The stock has a market cap of $214.55 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $61.76. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company has a 50 day simple moving average of $56.37 and a 200 day simple moving average of $49.26.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the business posted $1.23 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.06 EPS for the current year.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.