Vanguard Amends Wells Fargo Stake to 9.8% as of Dec 29, 2023

TL;DR

**Vanguard still owns a huge chunk of Wells Fargo, 9.8% as of year-end!**

AI Summary

The Vanguard Group, a major investment firm, filed an amendment (SC 13G/A) on February 13, 2024, updating its ownership in Wells Fargo & Co. As of December 29, 2023, Vanguard reported beneficial ownership of 349,699,579 shares of Wells Fargo's Common Stock, representing 9.8% of the company. This filing indicates Vanguard remains a significant institutional holder, which matters to investors as large institutional ownership can provide stability but also means a large block of shares could be sold, potentially impacting the stock price.

Why It Matters

This filing confirms Vanguard's continued substantial investment in Wells Fargo, signaling confidence from a major institutional investor, but also highlights a large concentration of shares that could influence market dynamics.

Risk Assessment

Risk Level: low — This is a routine update from a large institutional investor and does not indicate any immediate significant risk or change in company fundamentals.

Analyst Insight

Investors should note Vanguard's consistent, large stake in Wells Fargo, indicating long-term institutional interest. While not a direct buy signal, it suggests a degree of stability from a major holder. Keep an eye on future filings for any significant changes in this position.

Key Numbers

• 349,699,579 — Shares Beneficially Owned (Represents the total number of Wells Fargo shares Vanguard holds.)
• 9.8% — Percentage of Class (Indicates Vanguard's significant ownership stake in Wells Fargo.)
• December 29, 2023 — Event Date (The specific date for which the ownership data is reported.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and major institutional investor
• Wells Fargo & Co (company) — issuer of the securities
• 349,699,579 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 9.8% (dollar_amount) — percentage of Wells Fargo's common stock owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Vanguard will likely maintain a significant stake in Wells Fargo throughout 2024. (The Vanguard Group) — high confidence, target: 2024-12-31

FAQ

Filing Documents

• tv02267-wellsfargoco.htm (SC 13G/A) — 11KB
• 0001104659-24-022291.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Wells Fargo & Co

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 420 Montgomery Street San Francisco, CA 94104

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 949746101

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR