St. Louis Financial Planners Asset Management LLC Invests $2.79 Million in Wells Fargo & Company $WFC

St. Louis Financial Planners Asset Management LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the third quarter, HoldingsChannel reports. The institutional investor bought 33,271 shares of the financial services provider’s stock, valued at approximately $2,789,000. Wells Fargo & Company makes up approximately 1.8% of St. Louis Financial Planners Asset Management LLC’s portfolio, making the stock its 24th largest position.

A number of other institutional investors also recently made changes to their positions in the stock. Wealth Management Partners LLC boosted its stake in shares of Wells Fargo & Company by 3.5% during the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 128 shares during the last quarter. Verum Partners LLC grew its holdings in shares of Wells Fargo & Company by 1.8% during the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after buying an additional 128 shares in the last quarter. Motive Wealth Advisors grew its holdings in shares of Wells Fargo & Company by 3.7% during the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after buying an additional 129 shares in the last quarter. Exencial Wealth Advisors LLC raised its position in shares of Wells Fargo & Company by 0.7% in the second quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock valued at $1,443,000 after buying an additional 131 shares during the last quarter. Finally, Yukon Wealth Management Inc. lifted its stake in shares of Wells Fargo & Company by 4.3% during the second quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock valued at $255,000 after buying an additional 132 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $92.89 on Tuesday. The business has a 50-day moving average of $85.76 and a two-hundred day moving average of $81.93. The firm has a market capitalization of $291.58 billion, a PE ratio of 15.28, a P/E/G ratio of 0.96 and a beta of 1.11. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $94.26.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Analysts Set New Price Targets

WFC has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Evercore ISI lifted their price objective on Wells Fargo & Company from $101.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday. Citigroup increased their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Finally, Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.68.

Wells Fargo & Company Profile

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.