Prudential Plc Upped Holding in Wells Fargo & Co (WFC)

February 22, 2018 - By Dolores Ford

Investors sentiment decreased to 0.73 in Q3 2017. Its down 0.15, from 0.88 in 2017Q2. It is negative, as 92 investors sold WFC shares while 725 reduced holdings. 103 funds opened positions while 495 raised stakes. 3.65 billion shares or 0.40% less from 3.66 billion shares in 2017Q2 were reported. Optimum Advsr invested 0.2% in Wells Fargo & Company (NYSE:WFC). Commonwealth Commercial Bank Of Aus has invested 0.4% of its portfolio in Wells Fargo & Company (NYSE:WFC). Putnam Invs Ltd holds 0.4% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 3.18 million shares. Willow Creek Wealth Mgmt Incorporated reported 0.51% stake. Primecap Ca holds 0.84% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 18.40M shares. Jefferies Grp Incorporated Limited Liability Company reported 0.03% of its portfolio in Wells Fargo & Company (NYSE:WFC). Van Den Berg Mgmt I Incorporated holds 3.77% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 608,025 shares. Ami Inv Mgmt holds 148,486 shares or 5.11% of its portfolio. Parsec Mngmt Inc has 106,440 shares. Moreover, Barrett Asset Limited Liability Company has 0.06% invested in Wells Fargo & Company (NYSE:WFC). Moors & Cabot Inc reported 0.37% in Wells Fargo & Company (NYSE:WFC). Alley Co Ltd Liability Company invested 2.03% of its portfolio in Wells Fargo & Company (NYSE:WFC). Moreover, Markston International Ltd Liability Corp has 1.34% invested in Wells Fargo & Company (NYSE:WFC) for 237,102 shares. Alps accumulated 22,317 shares or 0.01% of the stock. The California-based Hennessy has invested 0.03% in Wells Fargo & Company (NYSE:WFC).

Since November 17, 2017, it had 0 buys, and 1 sale for $292,234 activity.

Prudential Plc increased its stake in Wells Fargo & Co (WFC) by 4.62% based on its latest 2017Q3 regulatory filing with the SEC. Prudential Plc bought 654,883 shares as the company’s stock declined 8.66% while stock markets rallied. The hedge fund held 14.81 million shares of the major banks company at the end of 2017Q3, valued at $817.03M, up from 14.16 million at the end of the previous reported quarter. Prudential Plc who had been investing in Wells Fargo & Co for a number of months, seems to be bullish on the $292.18B market cap company. The stock decreased 0.37% or $0.22 during the last trading session, reaching $59.73. About 19.99M shares traded. Wells Fargo & Company (NYSE:WFC) has risen 9.67% since February 22, 2017 and is uptrending. It has underperformed by 7.03% the S&P500.

Prudential Plc, which manages about $98.23 billion and $31.69 billion US Long portfolio, decreased its stake in Morgan Stanley Group (NYSE:MS) by 119,103 shares to 4.56M shares, valued at $219.68 million in 2017Q3, according to the filing. It also reduced its holding in General Electric Co (NYSE:GE) by 652,695 shares in the quarter, leaving it with 4.55M shares, and cut its stake in Cognizant Technology (NASDAQ:CTSH).

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Reuters.com which released: “Trying to calm investors, Wells Fargo CEO stresses on stability” on February 13, 2018, also Bloomberg.com with their article: “Wells Fargo Hit With Rare Growth Ban in Yellen’s Final Act” published on February 02, 2018, Bloomberg.com published: “Munger Misfires Defending Wells Fargo’s Mistakes” on February 14, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) were released by: Reuters.com and their article: “Fed restrictions continue to badger Wells Fargo; US banks down” published on February 05, 2018 as well as Bloomberg.com‘s news article titled: “Wells Fargo Agrees to Disclose Pay Gaps, Following US Rivals” with publication date: February 01, 2018.

Wells Fargo & Company (NYSE:WFC) Ratings Coverage

Among 39 analysts covering Wells Fargo & Company (NYSE:WFC), 15 have Buy rating, 8 Sell and 16 Hold. Therefore 38% are positive. Wells Fargo & Company has $76 highest and $44 lowest target. $59.88’s average target is 0.25% above currents $59.73 stock price. Wells Fargo & Company had 131 analyst reports since July 29, 2015 according to SRatingsIntel. RBC Capital Markets maintained the shares of WFC in report on Wednesday, August 30 with “Buy” rating. Barclays Capital maintained Wells Fargo & Company (NYSE:WFC) on Monday, July 18 with “Overweight” rating. The firm has “Neutral” rating given on Tuesday, November 24 by Piper Jaffray. The stock of Wells Fargo & Company (NYSE:WFC) has “Buy” rating given on Friday, October 6 by Robert W. Baird. The stock of Wells Fargo & Company (NYSE:WFC) earned “Neutral” rating by Guggenheim on Wednesday, April 26. As per Friday, April 28, the company rating was maintained by Vining Sparks. As per Thursday, January 7, the company rating was upgraded by Citigroup. The stock of Wells Fargo & Company (NYSE:WFC) earned “Hold” rating by BMO Capital Markets on Thursday, January 4. JP Morgan upgraded Wells Fargo & Company (NYSE:WFC) on Friday, October 9 to “Overweight” rating. Susquehanna downgraded the shares of WFC in report on Thursday, December 1 to “Neutral” rating.

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