Clarendon Private LLC Takes $847,000 Position in Wells Fargo & Company (NYSE:WFC)

Clarendon Private LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 12,064 shares of the financial services provider’s stock, valued at approximately $847,000. Wells Fargo & Company comprises about 0.9% of Clarendon Private LLC’s holdings, making the stock its 28th largest position.

Other institutional investors also recently bought and sold shares of the company. National Pension Service boosted its stake in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after buying an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after acquiring an additional 162,066 shares during the period. Nordea Investment Management AB boosted its position in shares of Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after purchasing an additional 575,892 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% during 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. Finally, Canoe Financial LP purchased a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $160,529,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.3 %

Shares of Wells Fargo & Company stock opened at $77.23 on Friday. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $78.30. The stock has a market capitalization of $257.13 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.17 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The business’s 50 day simple moving average is $73.19 and its 200-day simple moving average is $64.04.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WFC. Morgan Stanley upped their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Compass Point increased their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, October 8th. Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & 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.