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

Marks Group Wealth Management Inc lowered its position in Wells Fargo & Company (NYSE:WFC) by 9.2% in the 4th quarter, Holdings Channel reports. The firm owned 40,752 shares of the financial services provider’s stock after selling 4,147 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Wells Fargo & Company were worth $2,006,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WFC. Fortis Group Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter worth about $25,000. Arlington Trust Co LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. lifted its stake in Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company in the fourth quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth about $32,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays raised their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Argus raised their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, Morgan Stanley raised their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Trading Up 0.1 %

NYSE WFC traded up $0.08 on Tuesday, reaching $61.18. The stock had a trading volume of 10,476,868 shares, compared to its average volume of 18,891,664. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The stock has a fifty day moving average price of $56.12 and a two-hundred day moving average price of $49.12. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76. The firm 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.

Wells Fargo & Company (NYSE:WFC) last announced its 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. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

About Wells Fargo & Company

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.