Wells Fargo & Co (NYSE:WFC) Shares Bought by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. grew its stake in shares of Wells Fargo & Co (NYSE:WFC) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,822,775 shares of the financial services provider’s stock after purchasing an additional 86,029 shares during the period. Pictet Asset Management Ltd. owned approximately 0.06% of Wells Fargo & Co worth $155,676,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Delphi Private Advisors LLC boosted its stake in shares of Wells Fargo & Co by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,461 shares in the last quarter. Stelac Advisory Services LLC bought a new stake in shares of Wells Fargo & Co during the 2nd quarter valued at about $104,000. Patriot Financial Group Insurance Agency LLC lifted its position in Wells Fargo & Co by 0.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 6 shares during the period. Clear Investment Research LLC purchased a new position in Wells Fargo & Co during the 2nd quarter valued at about $121,000. Finally, Westside Investment Management Inc. lifted its position in Wells Fargo & Co by 63.9% during the 2nd quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 891 shares during the period. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on WFC. Vetr raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.49 price target for the company in a research report on Tuesday, October 24th. Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price target for the company in a research report on Wednesday. Vertical Group raised shares of Wells Fargo & Co from a “sell” rating to a “buy” rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $59.00 price target on shares of Wells Fargo & Co in a research report on Monday, October 16th. Finally, Buckingham Research raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $75.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $61.02.

In related news, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Insiders have sold 184,482 shares of company stock valued at $10,471,050 over the last three months. 0.22% of the stock is owned by corporate insiders.

Wells Fargo & Co (NYSE:WFC) opened at $62.55 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $63.67. The firm has a market cap of $308,240.00, a P/E ratio of 16.16, a PEG ratio of 1.72 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.13. Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The firm had revenue of $22.05 billion during the quarter, compared to analysts’ expectations of $22.64 billion. During the same period in the previous year, the company earned $0.96 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. analysts anticipate that Wells Fargo & Co will post 3.98 EPS for the current fiscal year.

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Wells Fargo & Co Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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