Wells Fargo & Company (NYSE:WFC) Stock Position Raised by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 13.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,535 shares of the financial services provider’s stock after purchasing an additional 1,222 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Wells Fargo & Company were worth $595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Wells Fargo & Company by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after buying an additional 831,975 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after purchasing an additional 2,349,595 shares in the last quarter. First Pacific Advisors LP increased its holdings in Wells Fargo & Company by 2.1% during the 2nd quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock worth $313,500,000 after purchasing an additional 108,480 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Wells Fargo & Company by 38.1% during the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after purchasing an additional 1,415,647 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Wells Fargo & Company by 1.0% during the 1st quarter. Russell Investments Group Ltd. now owns 4,662,953 shares of the financial services provider’s stock worth $270,035,000 after purchasing an additional 48,419 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WFC shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and lowered their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Morgan Stanley decreased their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Finally, Evercore ISI lifted their price target on Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.82.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $64.02 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $64.78. The firm has a fifty day simple moving average of $56.74 and a two-hundred day simple moving average of $58.05. The stock has a market capitalization of $223.19 billion, a P/E ratio of 13.15, a PEG ratio of 1.46 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share. On average, analysts expect that Wells Fargo & Company will post 5.12 earnings per share for the current fiscal year.

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.