Legal & General Group Plc Boosts Wells Fargo Stake

Investment firm increases position in financial services provider by 1.9% in Q3

Published on Mar. 10, 2026

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Legal & General Group Plc, a major institutional investor, increased its stake in Wells Fargo & Company (NYSE:WFC) by 1.9% in the third quarter, according to a recent SEC filing. The firm now owns over 21 million shares of the financial services provider, representing approximately 0.67% of the company's outstanding stock.

Why it matters

This move by Legal & General Group Plc, one of the largest asset managers globally, signals continued investor confidence in Wells Fargo despite the bank's past scandals and ongoing challenges. The increased stake could indicate the firm's belief in Wells Fargo's turnaround efforts and future growth potential.

The details

According to the SEC filing, Legal & General Group Plc purchased an additional 399,088 shares of Wells Fargo during the third quarter, bringing its total position to 21,009,237 shares. This represents a 1.9% increase in the firm's stake in the financial services company. Legal & General Group Plc is now one of Wells Fargo's largest institutional shareholders, owning approximately 0.67% of the bank's outstanding stock.

  • The SEC filing was made on March 10, 2026, disclosing the firm's Q3 2025 position in Wells Fargo.

The players

Legal & General Group Plc

A major global investment management firm headquartered in the United Kingdom.

Wells Fargo & Company

A diversified financial services company headquartered in San Francisco, California, providing a range of banking, investment, and mortgage products and services.

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The takeaway

This increased investment by a prominent institutional investor like Legal & General Group Plc suggests that Wells Fargo may be making progress in its efforts to rebuild trust and regain its footing after past scandals. However, the bank still faces ongoing challenges, and investors will likely continue to closely monitor its performance and strategic direction.