Ignite Planners LLC Acquires Shares of 3,579 Wells Fargo & Company (NYSE:WFC)

Ignite Planners LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,579 shares of the financial services provider’s stock, valued at approximately $255,000.

A number of other hedge funds have also recently made changes to their positions in WFC. Investors Research Corp increased its stake in Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after buying an additional 160 shares in the last quarter. Ellenbecker Investment Group increased its stake in Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after buying an additional 164 shares in the last quarter. Income Research & Management purchased a new stake in Wells Fargo & Company in the 3rd quarter worth $211,000. Modera Wealth Management LLC increased its stake in Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after buying an additional 167 shares in the last quarter. Finally, Catalina Capital Group LLC increased its stake in Wells Fargo & Company by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider’s stock worth $558,000 after buying an additional 168 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 0.8 %

Shares of NYSE WFC opened at $71.07 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $236.63 billion, a P/E ratio of 14.78, a PEG ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The firm has a 50-day simple moving average of $72.41 and a two-hundred day simple moving average of $63.15.

Wells Fargo & Company Dividend Announcement

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

Wall Street Analyst Weigh In

WFC has been the subject of a number of research analyst reports. Evercore ISI raised their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. 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 research report on Tuesday, October 8th. Morgan Stanley cut their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Citigroup raised their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $69.92.

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.