Intact Investment Management Inc. Has $11.60 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

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

Several other large investors have also recently added to or reduced their stakes in WFC. Fortis Group Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter worth approximately $25,000. Arlington Trust Co LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company in the fourth quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. HSBC raised their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Barclays raised their target price on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Finally, The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Thirteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC traded down $0.02 during midday trading on Friday, reaching $59.91. 18,785,900 shares of the company’s stock were exchanged, compared to its average volume of 18,078,044. The company’s 50 day simple moving average is $56.93 and its two-hundred day simple moving average is $49.56. The firm has a market capitalization of $212.11 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $61.76. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period last year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

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.