Pictet Asset Management Holding SA Purchases 36,357 Shares of Wells Fargo & Company $WFC

Key Points

• Pictet Asset Management increased its stake in Wells Fargo by 36,357 shares in Q4, bringing its holding to 1,655,247 shares (about 0.05% of the company) valued at roughly $154.3 million.
• Wells Fargo reported Q1 EPS of $1.60, beating estimates while revenue came in at $21.45 billion (slightly below expectations) and was up 6.4% year‑over‑year; analysts’ consensus is a "Moderate Buy" with a $97.75 price target.
• Insiders sold 115,000 shares worth about $10.05 million over the past 90 days (including two EVP transactions), and insiders now own just 0.14% of the stock.

Pictet Asset Management Holding SA boosted its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,655,247 shares of the financial services provider's stock after purchasing an additional 36,357 shares during the period. Pictet Asset Management Holding SA owned about 0.05% of Wells Fargo & Company worth $154,284,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Atlas Legacy Advisors LLC lifted its holdings in Wells Fargo & Company by 4.1% during the 4th quarter. Atlas Legacy Advisors LLC now owns 4,820 shares of the financial services provider's stock valued at $442,000 after purchasing an additional 189 shares during the last quarter. Deltec Asset Management LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at about $541,000. Inscription Capital LLC lifted its holdings in Wells Fargo & Company by 40.3% during the 4th quarter. Inscription Capital LLC now owns 7,982 shares of the financial services provider's stock valued at $744,000 after purchasing an additional 2,291 shares during the last quarter. Elevated Financial Group LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at about $537,000. Finally, Simon Quick Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $373,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 1.5%

Shares of NYSE WFC opened at $80.62 on Tuesday. Wells Fargo & Company has a 1-year low of $68.67 and a 1-year high of $97.76. The company has a market cap of $248.77 billion, a PE ratio of 12.44, a P/E/G ratio of 0.93 and a beta of 1.06. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average of $81.21 and a two-hundred day moving average of $86.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.58 by $0.02. The company had revenue of $21.45 billion during the quarter, compared to analysts' expectations of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. Wells Fargo & Company's revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.39 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on WFC. HSBC raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 target price for the company in a research note on Wednesday, April 1st. Wolfe Research reaffirmed an "outperform" rating and issued a $109.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. TD Cowen dropped their target price on shares of Wells Fargo & Company from $102.00 to $100.00 and set a "hold" rating for the company in a research note on Thursday, January 15th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Wells Fargo & Company in a research note on Thursday, January 15th. Finally, UBS Group reaffirmed a "buy" rating and issued a $113.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.75.

Insider Buying and Selling

In related news, EVP Kleber Santos sold 25,000 shares of the business's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the completion of the sale, the executive vice president directly owned 79,876 shares of the company's stock, valued at $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ellen R. Patterson sold 60,000 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the sale, the executive vice president directly owned 169,496 shares of the company's stock, valued at approximately $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 115,000 shares of company stock valued at $10,050,000 over the last ninety days. Insiders own 0.14% of the company's stock.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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