Intact Investment Management Inc. Buys 40,900 Shares of Wells Fargo & Company (NYSE:WFC)

Intact Investment Management Inc. raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 21.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,700 shares of the financial services provider’s stock after acquiring an additional 40,900 shares during the period. Intact Investment Management Inc.’s holdings in Wells Fargo & Company were worth $11,601,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WFC. Stoneridge Investment Partners LLC raised its stake in shares of Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after purchasing an additional 54,262 shares during the period. United Services Automobile Association raised its stake in shares of Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after purchasing an additional 11,825 shares during the period. Synovus Financial Corp raised its stake in shares of Wells Fargo & Company by 61.7% during the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after purchasing an additional 46,525 shares during the period. Trust Point Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth $2,499,000. Finally, Golden State Equity Partners raised its stake in shares of 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 worth $2,492,000 after purchasing an additional 30,316 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded down $0.02 during midday trading on Friday, hitting $59.91. 18,785,900 shares of the company’s stock were exchanged, compared to its average volume of 18,078,044. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company has a market cap of $212.11 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.19. The business’s fifty day moving average price is $56.93 and its two-hundred day moving average price is $49.56.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS 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 during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WFC shares. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Barclays boosted their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Citigroup restated a “neutral” rating and issued a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Thirteen research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $58.85.

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.