LifePlan Financial LLC Invests $989,000 in Wells Fargo & Company (NYSE:WFC)

LifePlan Financial LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,095 shares of the financial services provider’s stock, valued at approximately $989,000.

Several other institutional investors have also recently made changes to their positions in the company. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company in the third quarter valued at $25,000. Arlington Trust Co LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. boosted its position in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after buying an additional 356,620 shares during the period. Studio Investment Management LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the first quarter valued at about $28,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of several analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Compass Point reiterated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Citigroup reiterated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Jefferies Financial Group increased their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Morgan Stanley increased their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Stock Up 0.9 %

Shares of NYSE WFC traded up $0.50 on Monday, reaching $56.97. 19,084,090 shares of the company’s stock traded hands, compared to its average volume of 18,593,412. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $58.44. The business’s 50 day simple moving average is $54.92 and its two-hundred day simple moving average is $48.32. The company has a market cap of $201.70 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts forecast that Wells Fargo & Company will post 4.68 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is 29.23%.

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.