Brookwood Investment Group LLC Sells 8,004 Shares of Wells Fargo & Company $WFC

Brookwood Investment Group LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 50.8% during the second quarter, Holdings Channel.com reports. The firm owned 7,758 shares of the financial services provider’s stock after selling 8,004 shares during the period. Brookwood Investment Group LLC’s holdings in Wells Fargo & Company were worth $622,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WFC. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after acquiring an additional 949,735,001 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after purchasing an additional 7,894,919 shares during the last quarter. Strs Ohio purchased a new position in shares of Wells Fargo & Company during the first quarter worth $109,643,000. Canada Pension Plan Investment Board raised its holdings in shares of Wells Fargo & Company by 34.6% during the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after purchasing an additional 1,365,629 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Wells Fargo & Company by 30.5% in the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock valued at $353,668,000 after buying an additional 1,152,181 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WFC. TD Cowen lifted their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, October 15th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $86.97 on Tuesday. The company’s 50 day simple moving average is $82.08 and its 200-day simple moving average is $77.94. The company has a market capitalization of $278.59 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $87.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the prior year, the firm earned $1.42 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

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.