Perpetual Ltd Sells 357,676 Shares of Wells Fargo & Company (NYSE:WFC)

Perpetual Ltd lowered its position in Wells Fargo & Company (NYSE:WFC) by 96.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,515 shares of the financial services provider’s stock after selling 357,676 shares during the quarter. Perpetual Ltd’s holdings in Wells Fargo & Company were worth $809,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WFC. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. Finally, Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.4 %

Shares of NYSE:WFC opened at $77.56 on Thursday. The company has a 50 day moving average price of $72.94 and a two-hundred day moving average price of $63.72. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $258.23 billion, a PE ratio of 14.42, a PEG ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $78.29.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analysts Set New Price Targets

WFC has been the subject of several research analyst reports. Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays lifted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target 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.