As Wells Fargo Co New (WFC) Share Price Declined, Franklin Resources INC Has Upped Stake

July 14, 2018 - By Robert Crowder

Wells Fargo & Company (NYSE:WFC) LogoInvestors sentiment decreased to 0.59 in 2018 Q1. Its down 0.16, from 0.75 in 2017Q4. It dived, 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. Arrowmark Colorado Holdings Ltd Liability holds 0.1% or 198,210 shares in its portfolio. Lakeview Prtn Llc holds 0.46% in Wells Fargo & Company (NYSE:WFC) or 11,408 shares. Nichols And Pratt Advisers Ltd Liability Partnership Ma invested 0.16% of its portfolio in Wells Fargo & Company (NYSE:WFC). 48,331 are held by Brighton Jones Ltd Liability. Of Virginia Ltd Llc owns 1.62% invested in Wells Fargo & Company (NYSE:WFC) for 133,031 shares. Cap One Association owns 73,570 shares. Macguire Cheswick & Tuttle Inv Counsel Limited Company holds 260,935 shares. Flossbach Von Storch Ag reported 143,810 shares. Adams Diversified Equity Fund owns 358,500 shares. Quantitative Inv Mgmt Lc has 0.89% invested in Wells Fargo & Company (NYSE:WFC) for 978,900 shares. Parkside Fin Fincl Bank Trust reported 11,442 shares. Cetera Advisor Net Limited Liability Co has 0.29% invested in Wells Fargo & Company (NYSE:WFC) for 124,410 shares. Bailard has invested 0.11% in Wells Fargo & Company (NYSE:WFC). Litman Gregory Asset Mngmt Limited Liability Company accumulated 700 shares. Srb Corp holds 0.02% or 3,541 shares in its portfolio.

Since May 24, 2018, it had 0 insider buys, 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 1.49 million shares as the company’s stock declined 8.45% with the market. The institutional investor held 60.11 million shares of the major banks company at the end of 2018Q1, valued at $3.15B, 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 $269.76 billion 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 $197.26B US Long portfolio, decreased its stake in Metlife Inc (NYSE:MET) by 580,045 shares to 25.11M shares, valued at $1.15B in 2018Q1, according to the filing. It also reduced its holding in Celgene Corp (NASDAQ:CELG) by 1.11M shares in the quarter, leaving it with 9.26 million shares, and cut its stake in Cnh Indl N V (NYSE:CNHI).

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Seekingalpha.com which released: “Wells Fargo: Punished Enough?” on July 03, 2018, also Fool.com with their article: “Citigroup Earnings: A Mix of Good News and Disappointments” published on July 13, 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: Finance.Yahoo.com and their article: “Is Wells Fargo Stock Worth Buying Ahead of Earnings?” published on July 12, 2018 as well as Seekingalpha.com‘s news article titled: “Wells Fargo sells majority stake in Rock Creek Group” with publication date: July 05, 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. Nomura maintained Wells Fargo & Company (NYSE:WFC) on Monday, February 5 with “Buy” rating. The rating was downgraded by Keefe Bruyette & Woods to “Hold” on Monday, February 5. Morgan Stanley maintained Wells Fargo & Company (NYSE:WFC) on Friday, February 2 with “Overweight” rating. The company was maintained on Friday, April 13 by Susquehanna. The firm earned “Hold” rating on Sunday, April 15 by Piper Jaffray. Vining Sparks upgraded Wells Fargo & Company (NYSE:WFC) on Friday, April 6 to “Buy” rating. BMO Capital Markets maintained Wells Fargo & Company (NYSE:WFC) on Friday, April 13 with “Hold” rating. The stock of Wells Fargo & Company (NYSE:WFC) earned “Hold” rating by BMO Capital Markets on Sunday, February 4. The rating was upgraded by Macquarie Research on Monday, April 30 to “Outperform”. The rating was maintained by Keefe Bruyette & Woods with “Hold” on Sunday, April 15.

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

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