Raleigh Capital Management Inc. Has $1.14 Million Position in Wells Fargo & Company (NYSE:WFC)

Raleigh Capital Management Inc. boosted its stake in Wells Fargo & Company (NYSE:WFC) by 54.4% in the fourth quarter, HoldingsChannel reports. The firm owned 16,269 shares of the financial services provider’s stock after buying an additional 5,734 shares during the period. Raleigh Capital Management Inc.’s holdings in Wells Fargo & Company were worth $1,143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares during the period. Canoe Financial LP acquired a new stake in Wells Fargo & Company in the third quarter valued at approximately $160,529,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after acquiring an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after purchasing an additional 1,105,679 shares during the period. Finally, National Pension Service lifted its holdings in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after purchasing an additional 897,195 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on WFC. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Morgan Stanley raised their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Down 0.4 %

WFC stock opened at $77.56 on Thursday. The stock has a fifty day moving average of $73.03 and a 200-day moving average of $63.82. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.29. The company has a market capitalization of $258.23 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $0.86 earnings per share. As a group, equities research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company 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.