Retirement Systems of Alabama Cuts Holdings in Wells Fargo & Company (NYSE:WFC)

Retirement Systems of Alabama decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,388,381 shares of the financial services provider’s stock after selling 26,905 shares during the quarter. Retirement Systems of Alabama owned approximately 0.07% of Wells Fargo & Company worth $117,556,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WFC. Fortis Group Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $25,000. Arlington Trust Co LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WFC. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Jefferies Financial Group upped their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Compass Point reissued a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Finally, Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price for the company. in a research report on Thursday, January 18th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Price Performance

Shares of WFC traded down $0.02 during mid-day trading on Friday, hitting $59.91. The company’s stock had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm has a 50-day simple moving average of $56.93 and a 200 day simple moving average of $49.63. The firm has a market capitalization of $212.11 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.16 and a beta of 1.19. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $61.76.

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

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.