Wells Fargo Co New (WFC) Shareholder Franklin Resources INC Has Raised Its Stake by $77.30 Million

July 14, 2018 - By Frank Plummer

Wells Fargo & Company (NYSE:WFC) LogoInvestors sentiment decreased to 0.59 in 2018 Q1. Its down 0.16, from 0.75 in 2017Q4. It turned negative, as 108 investors sold WFC shares while 790 reduced holdings. 122 funds opened positions while 412 raised stakes. 3.62 billion shares or 0.62% less from 3.64 billion shares in 2017Q4 were reported. Somerville Kurt F stated it has 4,800 shares or 0.06% of all its holdings. Davis Selected Advisers reported 6.05% in Wells Fargo & Company (NYSE:WFC). Brookmont Mngmt stated it has 67,996 shares. Freestone Capital Holding Lc stated it has 35,530 shares. Moreover, Clear Harbor Asset Ltd Liability Corp has 0.06% invested in Wells Fargo & Company (NYSE:WFC). Montag A And Inc has invested 0.29% in Wells Fargo & Company (NYSE:WFC). Pinnacle Advisory Grp Incorporated Incorporated owns 4,939 shares for 0.02% of their portfolio. Glob X Management Ltd Com stated it has 30,789 shares or 0.03% of all its holdings. 70,043 were accumulated by Williams Jones & Assoc Limited Liability. Marshall Wace Ltd Liability Partnership invested in 0.02% or 8,608 shares. Lpl Fin reported 0.11% stake. Altavista Wealth Management Inc owns 27,170 shares. Moreover, Guardian Capital Limited Partnership has 1.35% invested in Wells Fargo & Company (NYSE:WFC). Evergreen Capital Mngmt Lc reported 16,721 shares stake. Rbf Capital Limited Liability Corp owns 10,000 shares for 0.06% of their portfolio.

Since May 24, 2018, it had 0 insider purchases, and 1 sale for $1.40 million activity.

Franklin Resources Inc increased its stake in Wells Fargo Co New (WFC) by 2.54% based on its latest 2018Q1 regulatory filing with the SEC. Franklin Resources Inc bought 1.49M shares as the company’s stock declined 8.45% with the market. The institutional investor held 60.11M shares of the major banks company at the end of 2018Q1, valued at $3.15 billion, up from 58.62 million at the end of the previous reported quarter. Franklin Resources Inc who had been investing in Wells Fargo Co New for a number of months, seems to be bullish on the $269.76B market cap company. The stock decreased 1.20% or $0.67 during the last trading session, reaching $55.36. About 34.35 million shares traded or 79.62% up from the average. Wells Fargo & Company (NYSE:WFC) has risen 4.02% since July 14, 2017 and is uptrending. It has underperformed by 8.55% the S&P500.

Franklin Resources Inc, which manages about $197.26 billion US Long portfolio, decreased its stake in Franklin Templeton Etf Tr by 532,600 shares to 10.83 million shares, valued at $365.86M in 2018Q1, according to the filing. It also reduced its holding in Cnh Indl N V (NYSE:CNHI) by 17.58 million shares in the quarter, leaving it with 17.45M shares, and cut its stake in Expedia Group Inc (NASDAQ:EXPE).

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Seekingalpha.com which released: “Wall Street Breakfast: Bank Earnings On The Radar” on July 13, 2018, also Finance.Yahoo.com with their article: “Bank of America Stock Looks Good on Paper, but That’s About It” published on July 11, 2018, 247Wallst.com published: “Wells Fargo Gets Off Cheap in Fed’s Stress Tests” on June 29, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) were released by: Streetinsider.com and their article: “Wells Fargo (WFC) Q2 EPS Misses Views” published on July 13, 2018 as well as Seekingalpha.com‘s news article titled: “Wells Fargo: Punished Enough?” with publication date: July 03, 2018.

Wells Fargo & Company (NYSE:WFC) Ratings Coverage

Among 20 analysts covering Wells Fargo (NYSE:WFC), 10 have Buy rating, 3 Sell and 7 Hold. Therefore 50% are positive. Wells Fargo has $76 highest and $5400 lowest target. $63.03’s average target is 13.85% above currents $55.36 stock price. Wells Fargo had 33 analyst reports since January 16, 2018 according to SRatingsIntel. The stock of Wells Fargo & Company (NYSE:WFC) earned “Hold” rating by Jefferies on Thursday, February 8. The firm has “Overweight” rating given on Friday, February 2 by Morgan Stanley. Keefe Bruyette & Woods downgraded Wells Fargo & Company (NYSE:WFC) on Monday, February 5 to “Hold” rating. As per Thursday, April 5, the company rating was upgraded by UBS. The firm has “Hold” rating by Susquehanna given on Friday, April 13. The stock of Wells Fargo & Company (NYSE:WFC) has “Sell” rating given on Monday, February 5 by RBC Capital Markets. The stock of Wells Fargo & Company (NYSE:WFC) has “Hold” rating given on Sunday, April 15 by Jefferies. The rating was downgraded by J.P. Morgan on Monday, February 5 to “Sell”. Bank of America maintained it with “Buy” rating and $69 target in Monday, February 5 report. As per Sunday, February 4, the company rating was maintained by Susquehanna.

Wells Fargo & Company (NYSE:WFC) Institutional Positions Chart

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