Worldquant Millennium Quantitative Strategies LLC Takes Position in Wells Fargo & Co (WFC)

Worldquant Millennium Quantitative Strategies LLC bought a new position in Wells Fargo & Co (NYSE:WFC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 7,466 shares of the financial services provider’s stock, valued at approximately $344,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WFC. Athena Capital Advisors LLC purchased a new stake in shares of Wells Fargo & Co during the 4th quarter valued at approximately $42,000. Mercer Capital Advisers Inc. raised its position in shares of Wells Fargo & Co by 81.3% during the 4th quarter. Mercer Capital Advisers Inc. now owns 1,171 shares of the financial services provider’s stock valued at $54,000 after buying an additional 525 shares during the period. SevenBridge Financial Group LLC raised its position in shares of Wells Fargo & Co by 500.0% during the 4th quarter. SevenBridge Financial Group LLC now owns 1,200 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,000 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in shares of Wells Fargo & Co by 72.4% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,405 shares of the financial services provider’s stock valued at $65,000 after buying an additional 590 shares during the period. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Wells Fargo & Co during the 4th quarter valued at approximately $82,000. 72.19% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently weighed in on the stock. ValuEngine upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Goldman Sachs Group downgraded shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating and dropped their target price for the company from $58.00 to $48.00 in a report on Friday, April 12th. Barclays dropped their target price on shares of Wells Fargo & Co from $66.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, January 2nd. Morgan Stanley dropped their target price on shares of Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Deutsche Bank dropped their target price on shares of Wells Fargo & Co from $54.00 to $48.00 and set a “hold” rating for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $56.35.

NYSE:WFC opened at $47.65 on Wednesday. The firm has a market capitalization of $228.13 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 0.87 and a beta of 1.11. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.88 and a quick ratio of 0.87. Wells Fargo & Co has a 52 week low of $43.02 and a 52 week high of $59.53.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The business had revenue of $21.61 billion during the quarter, compared to the consensus estimate of $20.89 billion. Wells Fargo & Co had a net margin of 22.59% and a return on equity of 13.37%. During the same quarter in the previous year, the firm posted $0.96 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Co will post 4.84 earnings per share for the current fiscal year.

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About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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