IFM Investors Pty Ltd raised its stake in Wells Fargo & Company (NYSE:WFC) by 16.0% in the fourth quarter, Holdings Channel reports. The fund owned 376,836 shares of the financial services provider’s stock after purchasing an additional 51,978 shares during the quarter. IFM Investors Pty Ltd’s holdings in Wells Fargo & Company were worth $11,373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Windacre Partnership LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $153,445,000. Pzena Investment Management LLC boosted its stake in shares of Wells Fargo & Company by 34.8% during the third quarter. Pzena Investment Management LLC now owns 18,439,768 shares of the financial services provider’s stock valued at $433,519,000 after purchasing an additional 4,760,961 shares in the last quarter. Carlson Capital L P boosted its stake in shares of Wells Fargo & Company by 810.8% during the third quarter. Carlson Capital L P now owns 3,648,860 shares of the financial services provider’s stock valued at $85,785,000 after purchasing an additional 3,248,260 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Wells Fargo & Company by 130.7% during the third quarter. Voloridge Investment Management LLC now owns 4,723,385 shares of the financial services provider’s stock worth $111,047,000 after purchasing an additional 2,675,776 shares during the last quarter. Finally, MFN Partners Management LP acquired a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $56,424,000. Institutional investors own 67.25% of the company’s stock.

Wells Fargo & Company stock traded down $0.14 during mid-day trading on Wednesday, reaching $33.80. The stock had a trading volume of 32,067,355 shares, compared to its average volume of 44,234,320. The stock’s 50-day simple moving average is $29.96 and its 200-day simple moving average is $25.75. Wells Fargo & Company has a fifty-two week low of $20.76 and a fifty-two week high of $50.74. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.85 and a current ratio of 0.87. The firm has a market capitalization of $139.75 billion, a PE ratio of 91.35, a price-to-earnings-growth ratio of 4.84 and a beta of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The business had revenue of $18.86 billion for the quarter, compared to analyst estimates of $17.87 billion. Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The business’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 EPS. On average, research analysts forecast that Wells Fargo & Company will post 0.48 earnings per share for the current fiscal year.

WFC has been the topic of a number of research reports. Barclays boosted their target price on shares of Wells Fargo & Company from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 4th. Raymond James boosted their price objective on shares of Wells Fargo & Company from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 29th. Deutsche Bank Aktiengesellschaft raised their target price on Wells Fargo & Company from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, January 6th. Piper Sandler upped their price target on Wells Fargo & Company from $25.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, December 21st. Finally, Royal Bank of Canada upgraded Wells Fargo & Company from an “underperform” rating to a “sector perform” rating and raised their price objective for the stock from $25.00 to $31.00 in a research report on Monday, November 30th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Wells Fargo & Company has an average rating of “Hold” and an average price target of $32.06.

About Wells Fargo & Company

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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