Wells Fargo & Company (NYSE:WFC) Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 26.8% in the 4th quarter, HoldingsChannel reports. The firm owned 831 shares of the financial services provider’s stock after selling 304 shares during the period. Pittenger & Anderson Inc.’s holdings in Wells Fargo & Company were worth $41,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Wells Fargo & Company by 5.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 82,227 shares of the financial services provider’s stock valued at $4,047,000 after purchasing an additional 4,532 shares during the period. Atria Wealth Solutions Inc. boosted its stake in shares of Wells Fargo & Company by 3.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 101,401 shares of the financial services provider’s stock worth $4,991,000 after acquiring an additional 3,093 shares in the last quarter. Wynn Capital LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $2,067,000. Bfsg LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $34,000. Finally, Private Management Group Inc. increased its position in shares of Wells Fargo & Company by 2.3% in the fourth quarter. Private Management Group Inc. now owns 22,160 shares of the financial services provider’s stock valued at $1,091,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.6 %

WFC traded up $0.34 on Friday, reaching $60.27. 9,926,731 shares of the company’s stock were exchanged, compared to its average volume of 19,002,043. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76. The company’s 50 day moving average is $56.77 and its 200-day moving average is $49.42. 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 market cap of $213.38 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.17 and a beta of 1.19.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Morgan Stanley boosted their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Robert W. Baird restated a “neutral” rating and issued a $55.00 target price on shares of Wells Fargo & Company in a report on Monday, January 8th. Finally, Barclays lifted their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & 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.