Marks Group Wealth Management Inc Sells 4,147 Shares of Wells Fargo & Company (NYSE:WFC)

Marks Group Wealth Management Inc cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,752 shares of the financial services provider’s stock after selling 4,147 shares during the period. Marks Group Wealth Management Inc’s holdings in Wells Fargo & Company were worth $2,006,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WFC. Summit Global Investments boosted its stake in Wells Fargo & Company by 6.3% in the third quarter. Summit Global Investments now owns 5,753 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 343 shares in the last quarter. Impact Partnership Wealth LLC bought a new stake in Wells Fargo & Company in the third quarter valued at about $34,000. Fifth Third Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 30.0% in the third quarter. Fifth Third Wealth Advisors LLC now owns 10,194 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 2,350 shares during the last quarter. BTC Capital Management Inc. increased its holdings in Wells Fargo & Company by 0.7% in the third quarter. BTC Capital Management Inc. now owns 155,788 shares of the financial services provider’s stock valued at $6,365,000 after purchasing an additional 1,147 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE lifted its holdings in shares of Wells Fargo & Company by 1.1% during the 3rd quarter. Lawson Kroeker Investment Management Inc. NE now owns 74,614 shares of the financial services provider’s stock valued at $3,049,000 after purchasing an additional 828 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WFC has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Citigroup reaffirmed a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Finally, Raymond James raised their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Price Performance

WFC stock traded up $0.08 during trading on Tuesday, reaching $61.18. 10,476,868 shares of the company were exchanged, compared to its average volume of 18,891,664. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $216.60 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.17 and a beta of 1.19. The company has a 50-day moving average of $56.12 and a two-hundred day moving average of $49.12.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. As a group, equities analysts predict that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.