Diversify Wealth Management LLC Purchases 7,945 Shares of Wells Fargo & Company (NYSE:WFC)

Diversify Wealth Management LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 33.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,350 shares of the financial services provider’s stock after purchasing an additional 7,945 shares during the period. Diversify Wealth Management LLC’s holdings in Wells Fargo & Company were worth $2,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Eldred Rock Partners LLC boosted its holdings in Wells Fargo & Company by 0.3% in the 4th quarter. Eldred Rock Partners LLC now owns 151,919 shares of the financial services provider’s stock worth $10,681,000 after buying an additional 478 shares during the period. City Holding Co. lifted its position in shares of Wells Fargo & Company by 25.9% in the fourth quarter. City Holding Co. now owns 1,460 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 300 shares in the last quarter. Annex Advisory Services LLC boosted its stake in shares of Wells Fargo & Company by 10.0% in the fourth quarter. Annex Advisory Services LLC now owns 5,001 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 455 shares during the period. Brady Martz Wealth Solutions LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $336,000. Finally, Artemis Investment Management LLP raised its stake in Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after purchasing an additional 1,105,679 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 1.7 %

Shares of NYSE WFC opened at $77.22 on Tuesday. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $257.11 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. The business’s 50 day moving average price is $72.74 and its 200-day moving average price is $63.48.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. On average, sell-side analysts expect that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on WFC. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Tuesday, October 8th. Finally, UBS Group raised their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $73.39.

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.