Summit Wealth & Retirement Planning Inc. Makes New $226,000 Investment in Wells Fargo & Company (NYSE:WFC)

Summit Wealth & Retirement Planning Inc. acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,223 shares of the financial services provider's stock, valued at approximately $226,000.

Several other large investors have also bought and sold shares of the company. Two Sigma Advisers LP grew its holdings in shares of Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock valued at $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. Canoe Financial LP acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $160,529,000. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock valued at $153,069,000 after buying an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP increased its holdings in Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock worth $96,567,000 after buying an additional 1,105,679 shares during the last quarter. Finally, National Pension Service raised its position in Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after acquiring an additional 897,195 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WFC. Evercore ISI increased their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Citigroup boosted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Phillip Securities raised shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and lifted their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC stock traded down $1.75 during trading hours on Monday, reaching $78.92. 8,741,391 shares of the company were exchanged, compared to its average volume of 14,958,968. Wells Fargo & Company has a fifty-two week low of $47.59 and a fifty-two week high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock's fifty day moving average is $73.89 and its two-hundred day moving average is $65.51. The company has a market cap of $262.75 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company's revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 29.74%.

Wells Fargo & Company 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.