Tokio Marine Asset Management Co. Ltd. Increases Holdings in Wells Fargo & Company (NYSE:WFC)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,227 shares of the financial services provider’s stock after buying an additional 4,532 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Wells Fargo & Company were worth $4,047,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WFC. Panagora Asset Management Inc. grew its position in Wells Fargo & Company by 131.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock worth $141,124,000 after acquiring an additional 1,958,483 shares during the last quarter. Nordea Investment Management AB grew its position in Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after acquiring an additional 1,729,132 shares during the last quarter. Artemis Investment Management LLP grew its position in Wells Fargo & Company by 87.8% during the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock worth $163,160,000 after acquiring an additional 1,549,979 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Wells Fargo & Company during the 3rd quarter worth approximately $54,894,000. Finally, Canada Pension Plan Investment Board grew its position in Wells Fargo & Company by 37.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock worth $174,078,000 after acquiring an additional 1,166,000 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.5 %

Shares of WFC stock traded down $0.34 during mid-day trading on Wednesday, hitting $60.61. The company’s stock had a trading volume of 19,723,388 shares, compared to its average volume of 19,057,547. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $61.76. The business has a 50-day moving average price of $56.61 and a 200 day moving average price of $49.34. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market cap of $214.57 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.18 and a beta of 1.19.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on WFC shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Raymond James lifted their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 16th. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a research report on Thursday, January 18th. The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Evercore ISI lifted their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Thirteen equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company 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.