Quantinno Capital Management LP Raises Stake in Wells Fargo & Company $WFC

Key Points

• Quantinno Capital Management increased its Wells Fargo stake by 17.9% in the first quarter, adding 199,510 shares to reach 1.32 million shares valued at approximately $104.7 million. Institutional investors collectively own 75.9% of WFC.
• Wells Fargo shares opened at $87.28, with a market capitalization of $267.1 billion and a price-to-earnings ratio of 12.69. The stock’s 52-week range is $72.78 to $97.76.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $98.50; recent targets range from $94 to $102.

Quantinno Capital Management LP boosted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,315,171 shares of the financial services provider's stock after buying an additional 199,510 shares during the quarter. Quantinno Capital Management LP's holdings in Wells Fargo & Company were worth $104,701,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Wells Fargo & Company by 19.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider's stock valued at $49,610,000 after buying an additional 84,902 shares in the last quarter. Swiss Life Asset Management Ltd grew its stake in Wells Fargo & Company by 4.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider's stock valued at $32,673,000 after buying an additional 14,168 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Wells Fargo & Company by 4.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider's stock valued at $38,446,000 after acquiring an additional 17,302 shares during the period. Norges Bank bought a new stake in Wells Fargo & Company during the 4th quarter valued at $4,512,563,000. Finally, Winning Points Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at $3,384,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 1.1%

WFC stock opened at $87.28 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The company's 50 day moving average is $82.97 and its 200 day moving average is $83.35. The stock has a market cap of $267.08 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Bank of America boosted their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Wall Street Zen raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Sunday, June 14th. Morgan Stanley raised their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Monday, June 29th. Finally, Raymond James Financial reaffirmed a "market perform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.50.

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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