Annex Advisory Services LLC Raises Position in Wells Fargo & Company (NYSE:WFC)

Annex Advisory Services LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 10.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,001 shares of the financial services provider’s stock after acquiring an additional 455 shares during the quarter. Annex Advisory Services LLC’s holdings in Wells Fargo & Company were worth $351,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WFC. Two Sigma Advisers LP raised its position in Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the period. Canoe Financial LP purchased a new position in Wells Fargo & Company in the 3rd quarter worth $160,529,000. Marshall Wace LLP raised its position in Wells Fargo & Company by 3,295.6% in the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after purchasing an additional 2,404,898 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after purchasing an additional 1,659,716 shares during the period. Finally, Artemis Investment Management LLP raised its position in Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after purchasing an additional 1,105,679 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WFC shares. Citigroup lifted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. UBS Group boosted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Up 1.7 %

NYSE:WFC opened at $77.22 on Tuesday. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50-day simple moving average is $72.74 and its 200 day simple moving average is $63.48. The firm has a market capitalization of $257.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

About Wells Fargo & Company

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.