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

Raleigh Capital Management Inc. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 13.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,535 shares of the financial services provider’s stock after purchasing an additional 1,222 shares during the period. Raleigh Capital Management Inc.’s holdings in Wells Fargo & Company were worth $595,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Marshall Wace LLP lifted its holdings in Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after acquiring an additional 2,404,898 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Wells Fargo & Company by 67.1% in 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 acquiring an additional 2,349,595 shares during the last quarter. Rokos Capital Management LLP boosted its stake in Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after acquiring an additional 1,536,152 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of 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 buying an additional 1,415,647 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its position in Wells Fargo & Company by 378.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,198,987 shares of the financial services provider’s stock worth $69,493,000 after purchasing an additional 948,422 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $64.02 on Tuesday. The stock has a market capitalization of $223.19 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $38.58 and a 12 month high of $64.78. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $56.74 and its 200-day simple moving average is $58.05.

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

Wall Street Analyst Weigh In

WFC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday, September 3rd. Compass Point lifted their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Morgan Stanley dropped their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.82.

Insider Buying and Selling at Wells Fargo & Company

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

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.