South Dakota Investment Council Sells 113,677 Shares of Wells Fargo & Company (NYSE:WFC)

South Dakota Investment Council reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 831,320 shares of the financial services provider’s stock after selling 113,677 shares during the quarter. Wells Fargo & Company accounts for approximately 0.9% of South Dakota Investment Council’s investment portfolio, making the stock its 12th biggest holding. South Dakota Investment Council’s holdings in Wells Fargo & Company were worth $40,918,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WFC. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth about $25,000. Arlington Trust Co LLC bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $32,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 0.2 %

Shares of Wells Fargo & Company stock traded down $0.15 on Tuesday, reaching $60.95. 21,678,006 shares of the company were exchanged, compared to its average volume of 19,048,328. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $61.76. The company has a market cap of $215.79 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The stock’s 50 day moving average price is $56.37 and its 200-day moving average price is $49.26.

Wells Fargo & Company (NYSE:WFC) last posted 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. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WFC shares. Barclays lifted their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Compass Point restated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Evercore ISI upped their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Morgan Stanley upped their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Argus boosted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $58.85.

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.