Planned Solutions Inc. Sells 150 Shares of Wells Fargo & Company $WFC

Planned Solutions Inc. lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 4.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,290 shares of the financial services provider’s stock after selling 150 shares during the period. Planned Solutions Inc.’s holdings in Wells Fargo & Company were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. McElhenny Sheffield Capital Management LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC raised its position in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the period. Accent Capital Management LLC purchased a new position in shares of Wells Fargo & Company during the 1st quarter valued at $29,000. Motco boosted its holdings in Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares during the period. Finally, Nova Wealth Management Inc. boosted its holdings in Wells Fargo & Company by 112.9% in the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock worth $34,000 after buying an additional 227 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.9%

WFC stock opened at $83.25 on Friday. The firm has a fifty day moving average price of $81.21 and a 200 day moving average price of $76.93. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $87.47. The firm has a market cap of $266.70 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.83 and a current ratio of 0.84.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. The ex-dividend date was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company’s payout ratio is 29.61%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WFC shares. Dbs Bank raised shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. The Goldman Sachs Group dropped their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Bank of America upped their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group dropped their price target on 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. Finally, Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

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.