Strs Ohio Boosted Its Stake in Wells Fargo Company (WFC) as Shares Declined

September 7, 2018 - By Robert Shackelford

Wells Fargo & Company (NYSE:WFC) LogoInvestors sentiment decreased to 0.59 in Q1 2018. Its down 0.16, from 0.75 in 2017Q4. It dropped, 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. Boyd Watterson Asset Ltd Liability Corp Oh invested 0.86% in Wells Fargo & Company (NYSE:WFC). Partnervest Advisory Services Limited Liability Company invested in 16,791 shares or 0.42% of the stock. Endurance Wealth holds 0.43% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 48,693 shares. Massmutual Trust Fsb Adv stated it has 0% of its portfolio in Wells Fargo & Company (NYSE:WFC). Dearborn Ptnrs Ltd holds 8,032 shares. 1.90 million are owned by Cooke Bieler Ltd Partnership. Gabelli Funds Ltd Llc accumulated 0.61% or 1.94 million shares. Founders Financial Ltd Liability Com stated it has 0.19% in Wells Fargo & Company (NYSE:WFC). Evermay Wealth Mgmt Limited Liability Corp holds 0.12% or 6,721 shares. 1St Source Commercial Bank owns 78,094 shares. 53,306 are owned by Family Mgmt. Davis Ptnrs Ltd Liability Co reported 1.60M shares. Griffin Asset Management holds 1.81% or 189,487 shares. Neville Rodie And Shaw Inc holds 218,770 shares or 1.26% of its portfolio. Hermes Invest Ltd has 614,485 shares for 0.47% of their portfolio.

Since May 24, 2018, it had 0 insider purchases, and 2 insider sales for $7.27 million activity. Pelos Petros G also sold $1.40 million worth of Wells Fargo & Company (NYSE:WFC) shares.

Strs Ohio increased its stake in Wells Fargo Company (WFC) by 10.74% based on its latest 2018Q1 regulatory filing with the SEC. Strs Ohio bought 403,704 shares as the company’s stock declined 8.45% with the market. The institutional investor held 4.16M shares of the major banks company at the end of 2018Q1, valued at $218.21 million, up from 3.76 million at the end of the previous reported quarter. Strs Ohio who had been investing in Wells Fargo Company for a number of months, seems to be bullish on the $276.42 billion market cap company. The stock decreased 0.92% or $0.535 during the last trading session, reaching $57.395. About 11.32 million shares traded. Wells Fargo & Company (NYSE:WFC) has risen 4.02% since September 7, 2017 and is uptrending. It has underperformed by 8.55% the S&P500.

Strs Ohio, which manages about $22.61B US Long portfolio, decreased its stake in Amgen Inc (NASDAQ:AMGN) by 22,088 shares to 421,431 shares, valued at $71.85M in 2018Q1, according to the filing. It also reduced its holding in Bank Of America Corp. (NYSE:BAC) by 424,202 shares in the quarter, leaving it with 7.60M shares, and cut its stake in Avalonbay Communities (NYSE:AVB).

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Bizjournals.com which released: “Wells Fargo under federal investigation for potential fraud in wholesale banking unit” on September 06, 2018, also Bizjournals.com with their article: “Fintech Varo Money gets preliminary approval to start first mobile-only national bank” published on September 05, 2018, Bizjournals.com published: “Wells Fargo lays off 137 from Orlando mortgage operations” on August 23, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) were released by: Seekingalpha.com and their article: “Wells Fargo: Should We Start Building Longs?” published on August 09, 2018 as well as Bizjournals.com‘s news article titled: “Wells Fargo faces questions on gender ratios in executive positions” with publication date: August 31, 2018.

Wells Fargo & Company (NYSE:WFC) Ratings Coverage

Among 14 analysts covering Wells Fargo (NYSE:WFC), 9 have Buy rating, 0 Sell and 5 Hold. Therefore 64% are positive. Wells Fargo had 22 analyst reports since March 26, 2018 according to SRatingsIntel. The stock has “Buy” rating by Sandler O’Neill on Friday, April 13. The stock has “Buy” rating by Robert W. Baird on Monday, March 26. The firm has “Hold” rating by Jefferies given on Sunday, April 15. The rating was maintained by Susquehanna with “Hold” on Monday, April 23. The stock has “Buy” rating by UBS on Thursday, April 5. Barclays Capital maintained it with “Overweight” rating and $66 target in Monday, April 16 report. The rating was upgraded by Morgan Stanley to “Equal-Weight” on Monday, July 2. Vining Sparks upgraded Wells Fargo & Company (NYSE:WFC) on Friday, April 6 to “Buy” rating. The firm earned “Underweight” rating on Monday, April 30 by Morgan Stanley. The rating was upgraded by Macquarie Research on Monday, April 30 to “Outperform”.

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

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