Intact Investment Management Inc. Raises Holdings in Wells Fargo & Company (NYSE:WFC)

Intact Investment Management Inc. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,000 shares of the financial services provider’s stock after acquiring an additional 6,850 shares during the quarter. Intact Investment Management Inc.’s holdings in Wells Fargo & Company were worth $13,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Covestor Ltd raised its position in Wells Fargo & Company by 17.3% during the 3rd quarter. Covestor Ltd now owns 1,326 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 196 shares during the last quarter. Venturi Wealth Management LLC raised its position in Wells Fargo & Company by 21.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,773 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 495 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in Wells Fargo & Company by 6.7% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,115 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 259 shares during the last quarter. First Heartland Consultants Inc. bought a new position in Wells Fargo & Company during the 3rd quarter valued at approximately $309,000. Finally, Aptus Capital Advisors LLC raised its position in Wells Fargo & Company by 17.0% during the 3rd quarter. Aptus Capital Advisors LLC now owns 27,872 shares of the financial services provider’s stock valued at $1,574,000 after purchasing an additional 4,048 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $68.35 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $224.76 billion, a P/E ratio of 12.71, a PEG ratio of 1.18 and a beta of 1.16. The stock’s 50 day moving average is $75.90 and its 200 day moving average is $68.74. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the business posted $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.34%. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Piper Sandler increased their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.39.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.