What THIS Metric Says About Wells Fargo & Co (WFC)?

Now, key money managers have jumped into Wells Fargo & Co (NYSE:WFC) headfirst. Orbis Investment Management, managed by William B. Gray, initiated the most outsized position in Wells Fargo & Co (NYSE:WFC). Orbis Investment Management had $235.4 million invested in the company at the end of the quarter. Howard Guberman’s Gruss Asset Management also made a $137.3 million investment in the stock during the quarter. The other funds with new positions in the stock are Howard Guberman’s Gruss Asset Management, Ken Griffin’s Citadel Investment Group, and John Khoury’s Long Pond Capital.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Wells Fargo & Co (NYSE:WFC) but similarly valued. We will take a look at China Mobile Ltd. (ADR) (NYSE:CHL), Verizon Communications Inc. (NYSE:VZ), Wal-Mart Stores, Inc. (NYSE:WMT), and JPMorgan Chase & Co. (NYSE:JPM). This group of stocks’ market valuations match WFC’s market valuation.

As you can see these stocks had an average of 61 hedge funds with bullish positions and the average amount invested in these stocks was $4.15 billion at the end of the third quarter. That figure was $27.42 billion in Wells Fargo’s case. JPMorgan Chase & Co. (NYSE:JPM) is the most popular stock in this table with 98 funds holding shares as of the end of September. On the other hand China Mobile Ltd. (ADR) (NYSE:CHL) is the least popular one with only 20 bullish hedge fund positions. Compared to these stocks Wells Fargo & Co (NYSE:WFC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.