Wells Fargo & Company (NYSE:WFC) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. boosted its position in Wells Fargo & Company (NYSE:WFC) by 5.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 82,227 shares of the financial services provider’s stock after acquiring an additional 4,532 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Wells Fargo & Company were worth $4,047,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $25,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $29,000. Fortis Group Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $32,000. Finally, Bfsg LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Compass Point restated a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Finally, Piper Sandler decreased their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Trading Down 0.5 %

Shares of WFC stock traded down $0.34 during trading hours on Wednesday, reaching $60.61. 19,723,388 shares of the stock traded hands, compared to its average volume of 19,057,547. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $61.76. The business has a fifty day moving average price of $56.61 and a 200 day moving average price of $49.34. 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 firm has a market capitalization of $214.57 billion, a PE ratio of 12.65, a PEG ratio of 1.18 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates 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. On average, equities research analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current year.

Wells Fargo & Company Company Profile

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.