3,579 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Ignite Planners LLC

Ignite Planners LLC acquired a new position in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,579 shares of the financial services provider’s stock, valued at approximately $255,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new stake in Wells Fargo & Company during the second quarter valued at about $225,000. Renaissance Technologies LLC raised its position in Wells Fargo & Company by 23.8% during the second quarter. Renaissance Technologies LLC now owns 1,233,911 shares of the financial services provider’s stock valued at $73,282,000 after purchasing an additional 237,400 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Wells Fargo & Company during the second quarter valued at about $272,000. Old West Investment Management LLC purchased a new stake in Wells Fargo & Company during the second quarter valued at about $477,000. Finally, Plancorp LLC raised its position in Wells Fargo & Company by 1.8% during the second quarter. Plancorp LLC now owns 13,514 shares of the financial services provider’s stock valued at $803,000 after purchasing an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $71.07 on Wednesday. The stock’s 50 day simple moving average is $72.41 and its two-hundred day simple moving average is $63.15. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $236.63 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.25%. Wells Fargo & Company’s payout ratio is 33.26%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WFC. UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Compass Point lifted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, 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 report on Wednesday, October 30th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.92.

About Wells Fargo & Company

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.