Retirement Systems of Alabama Reduces Stake in Wells Fargo & Company (NYSE:WFC)

Retirement Systems of Alabama lowered its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,388,381 shares of the financial services provider's stock after selling 26,905 shares during the period. Retirement Systems of Alabama owned about 0.07% of Wells Fargo & Company worth $117,556,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Exchange Traded Concepts LLC increased its holdings in shares of Wells Fargo & Company by 12.7% in the third quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the financial services provider's stock worth $153,000 after buying an additional 424 shares during the period. CX Institutional increased its holdings in Wells Fargo & Company by 2.6% during the 3rd quarter. CX Institutional now owns 20,063 shares of the financial services provider's stock valued at $820,000 after purchasing an additional 500 shares during the period. Avion Wealth increased its holdings in Wells Fargo & Company by 23.3% during the 3rd quarter. Avion Wealth now owns 17,253 shares of the financial services provider's stock valued at $704,000 after purchasing an additional 3,258 shares during the period. Golden State Equity Partners increased its holdings in Wells Fargo & Company by 98.8% during the 3rd quarter. Golden State Equity Partners now owns 60,998 shares of the financial services provider's stock valued at $2,492,000 after purchasing an additional 30,316 shares during the period. Finally, Atlantic Union Bankshares Corp increased its holdings in Wells Fargo & Company by 30.5% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 53,469 shares of the financial services provider's stock valued at $2,185,000 after purchasing an additional 12,494 shares during the period. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 0.0 %

Shares of Wells Fargo & Company stock traded down $0.02 during midday trading on Friday, hitting $59.91. The company had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market capitalization of $212.11 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.16 and a beta of 1.19. The company has a 50 day moving average of $56.93 and a 200 day moving average of $49.70. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $61.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly 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 company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the business posted $1.23 EPS. The firm's quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

WFC has been the topic of a number of research analyst reports. StockNews.com upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Monday, April 15th. HSBC boosted their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the company a "hold" rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Evercore ISI boosted their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, March 28th. Finally, Oppenheimer restated a "market perform" rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $58.85.

Wells Fargo & 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.