Sumitomo Mitsui DS Asset Management Company Ltd Sells 7,669 Shares of Wells Fargo & Co (NYSE:WFC)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its stake in Wells Fargo & Co (NYSE:WFC) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 300,542 shares of the financial services provider’s stock after selling 7,669 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Wells Fargo & Co were worth $16,169,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in WFC. Kanawha Capital Management LLC raised its position in Wells Fargo & Co by 0.9% in the 2nd quarter. Kanawha Capital Management LLC now owns 205,617 shares of the financial services provider’s stock valued at $9,730,000 after purchasing an additional 1,854 shares in the last quarter. Man Group plc grew its holdings in Wells Fargo & Co by 0.6% in the 2nd quarter. Man Group plc now owns 230,006 shares of the financial services provider’s stock worth $10,883,000 after buying an additional 1,340 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Wells Fargo & Co by 21.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 52,726 shares of the financial services provider’s stock worth $2,495,000 after buying an additional 9,162 shares in the last quarter. Andra AP fonden grew its holdings in Wells Fargo & Co by 39.6% in the 2nd quarter. Andra AP fonden now owns 118,200 shares of the financial services provider’s stock worth $5,593,000 after buying an additional 33,500 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in Wells Fargo & Co by 26.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 22,926 shares of the financial services provider’s stock worth $1,085,000 after buying an additional 4,757 shares in the last quarter. 75.67% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Co stock traded down $0.94 during mid-day trading on Friday, hitting $47.27. 838,041 shares of the company’s stock were exchanged, compared to its average volume of 20,145,394. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock has a market cap of $205.38 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.10 and a beta of 1.11. Wells Fargo & Co has a 1-year low of $43.34 and a 1-year high of $54.75. The stock has a 50 day moving average of $52.63 and a two-hundred day moving average of $50.05.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Tuesday, January 14th. The financial services provider reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a return on equity of 12.11% and a net margin of 18.81%. The business had revenue of $19.86 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same period in the previous year, the company earned $1.21 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, research analysts predict that Wells Fargo & Co will post 4.12 EPS for the current fiscal year.

WFC has been the subject of a number of recent analyst reports. Bank of America set a $50.00 price objective on Wells Fargo & Co and gave the stock a “hold” rating in a report on Monday, September 30th. ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. UBS Group reduced their target price on Wells Fargo & Co from $52.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Robert W. Baird lowered Wells Fargo & Co from a “neutral” rating to an “underperform” rating and set a $50.00 target price for the company. in a report on Thursday, January 2nd. Finally, Argus upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, September 30th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company. Wells Fargo & Co currently has a consensus rating of “Hold” and an average price target of $49.88.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

Further Reading: Correction

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

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