Strategic Planning Group LLC Invests $203,000 in Wells Fargo & Company (NYSE:WFC)

Strategic Planning Group LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,891 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WFC. Quarry LP acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $105,000. Advisory Alpha LLC raised its position in shares of Wells Fargo & Company by 5.2% during the second quarter. Advisory Alpha LLC now owns 5,490 shares of the financial services provider’s stock worth $326,000 after acquiring an additional 270 shares during the last quarter. RiverFront Investment Group LLC acquired a new position in shares of Wells Fargo & Company during the second quarter valued at $6,927,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the second quarter valued at about $26,000. Finally, Creekside Partners bought a new stake in Wells Fargo & Company during the 2nd quarter worth about $566,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.7 %

Shares of Wells Fargo & Company stock opened at $78.41 on Thursday. Wells Fargo & Company has a 52-week low of $47.45 and a 52-week high of $78.98. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The business’s 50 day simple moving average is $73.35 and its 200 day simple moving average is $64.38. The firm has a market cap of $261.07 billion, a PE ratio of 14.57, a P/E/G ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for 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 firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. On average, analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. UBS Group increased their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Tuesday, October 8th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.39.

About Wells Fargo & Company

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.