Macquarie Group Ltd. Trims Position in Wells Fargo & Co (WFC)

Share on StockTwits

Macquarie Group Ltd. decreased its stake in shares of Wells Fargo & Co (NYSE:WFC) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 888,480 shares of the financial services provider’s stock after selling 43,508 shares during the period. Macquarie Group Ltd.’s holdings in Wells Fargo & Co were worth $40,941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp increased its stake in Wells Fargo & Co by 0.9% during the 4th quarter. Northern Trust Corp now owns 52,682,537 shares of the financial services provider’s stock worth $2,427,611,000 after purchasing an additional 449,328 shares in the last quarter. Geode Capital Management LLC boosted its position in Wells Fargo & Co by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 51,636,368 shares of the financial services provider’s stock worth $2,375,189,000 after acquiring an additional 2,114,810 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Wells Fargo & Co by 4,415.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,790,126 shares of the financial services provider’s stock worth $473,000 after acquiring an additional 21,307,608 shares during the last quarter. Legal & General Group Plc boosted its position in Wells Fargo & Co by 4.9% during the 4th quarter. Legal & General Group Plc now owns 20,391,629 shares of the financial services provider’s stock worth $939,635,000 after acquiring an additional 947,264 shares during the last quarter. Finally, Sanders Capital LLC boosted its position in Wells Fargo & Co by 1.2% during the 4th quarter. Sanders Capital LLC now owns 15,820,838 shares of the financial services provider’s stock worth $808,166,000 after acquiring an additional 180,608 shares during the last quarter. Institutional investors and hedge funds own 72.19% of the company’s stock.

A number of equities analysts have weighed in on WFC shares. Raymond James raised Wells Fargo & Co from an “underperform” rating to a “market perform” rating and set a $50.08 price target for the company in a research report on Friday, March 29th. Wolfe Research downgraded Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Royal Bank of Canada raised Wells Fargo & Co from an “underperform” rating to a “sector perform” rating and set a $45.50 price target for the company in a research report on Wednesday, January 2nd. Barclays reduced their price target on Wells Fargo & Co from $66.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, January 2nd. Finally, Deutsche Bank downgraded Wells Fargo & Co from a “buy” rating to a “hold” rating and reduced their price target for the stock from $56.00 to $54.00 in a research report on Friday, March 29th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $56.35.

NYSE WFC opened at $47.58 on Friday. The company has a market capitalization of $232.08 billion, a PE ratio of 10.86, a P/E/G 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 12 month low of $43.02 and a 12 month high of $59.53.

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

ILLEGAL ACTIVITY NOTICE: “Macquarie Group Ltd. Trims Position in Wells Fargo & Co (WFC)” was reported by Zolmax and is owned by of Zolmax. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://zolmax.com/investing/macquarie-group-ltd-trims-position-in-wells-fargo-co-wfc/3052018.html.

Wells Fargo & Co Profile

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.

Read More: Investing in Dividend Stocks

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co (NYSE:WFC).

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

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Tabula Rasa HealthCare Inc  Position Lifted by Rathbone Brothers plc
Tabula Rasa HealthCare Inc Position Lifted by Rathbone Brothers plc
Meta Financial Group Inc.  Director Sells $132,016.56 in Stock
Meta Financial Group Inc. Director Sells $132,016.56 in Stock
Spark Investment Management LLC Buys Shares of 40,300 OncoCyte Corp
Spark Investment Management LLC Buys Shares of 40,300 OncoCyte Corp
Endologix, Inc.  Shares Sold by Spark Investment Management LLC
Endologix, Inc. Shares Sold by Spark Investment Management LLC
LendingClub Corp  Receives Average Rating of “Hold” from Analysts
LendingClub Corp Receives Average Rating of “Hold” from Analysts
Big Lots  Raised to Buy at Zacks Investment Research
Big Lots Raised to Buy at Zacks Investment Research


 
© 2006-2019 Zolmax.