Schonfeld Strategic Advisors LLC Boosts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Schonfeld Strategic Advisors LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 92.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 589,272 shares of the financial services provider’s stock after acquiring an additional 283,390 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Wells Fargo & Company were worth $41,390,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Empowered Funds LLC lifted its stake in Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after buying an additional 30,510 shares in the last quarter. Valmark Advisers Inc. lifted its holdings in shares of Wells Fargo & Company by 5.5% during the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 431 shares during the period. NatWest Group plc lifted its holdings in Wells Fargo & Company by 57.7% in the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock valued at $12,115,000 after acquiring an additional 63,102 shares during the period. Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $1,656,000. Finally, Modera Wealth Management LLC boosted its stake in Wells Fargo & Company by 14.1% in the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider’s stock worth $1,444,000 after buying an additional 2,548 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.5 %

Wells Fargo & Company stock opened at $69.41 on Tuesday. The stock has a 50-day simple moving average of $69.80 and a 200-day simple moving average of $71.68. The company has a market capitalization of $226.63 billion, a P/E ratio of 12.90, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.15 billion for the quarter, compared to analysts’ expectations of $20.82 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. Wells Fargo & Company’s quarterly revenue was down 3.4% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WFC shares. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Barclays decreased their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Piper Sandler lowered their target price on shares of Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, April 14th. Finally, Morgan Stanley increased their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, April 7th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.34.

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.