Wellington Management Group LLP, a renowned investment management firm, recently made a significant transaction in its portfolio. The firm reduced its stake in Banc of California Inc (BANC, Financial), a prominent financial holding company based in the USA. This article will delve into the details of this transaction, provide an overview of both Wellington Management Group LLP and Banc of California Inc, and analyze the stock's performance since the transaction.
Details of the Transaction
The transaction took place on July 31, 2023, with Wellington Management Group LLP reducing its holdings in Banc of California Inc by a substantial 76.74%. This resulted in a decrease of 3,085,986 shares, leaving the firm with a total of 935,460 shares in the company. The transaction had a minor impact of -0.01% on the guru's portfolio and the traded price was $14.21 per share. Despite the reduction, Wellington Management Group LLP still holds a significant 1.63% of Banc of California Inc's total shares.
Profile of Wellington Management Group LLP
Wellington Management Group LLP is a privately owned investment manager, established in 1928 by Walter Morgan. The firm has grown significantly over the years, with over $900 billion total assets under management from over 2000 clients. The firm employs almost 600 investment professionals who provide over 200 investment approaches to clients. Wellington Management Group LLP's top holdings include Apple Inc (AAPL, Financial), Alphabet Inc (GOOGL, Financial), Microsoft Corp (MSFT, Financial), Pfizer Inc (PFE, Financial), and UnitedHealth Group Inc (UNH, Financial). The firm's primary sectors of focus are Healthcare and Technology. 
Overview of Banc of California Inc
Banc of California Inc is a financial holding company that offers a range of banking and financial services. The company's services include banking services, lending services, and private banking services. As of the date of this article, Banc of California Inc has a market capitalization of $786.267 million. The company's PE percentage stands at 9.71, indicating that it is currently profitable. According to GuruFocus, the company is modestly undervalued with a GF Value of 18.03. The company's GF Score is 55/100, suggesting a poor future performance potential. 
Analysis of the Stock's Performance
Since the transaction, Banc of California Inc's stock has seen a decrease of 3.66%. The year-to-date percent change stands at -13.52%. The stock's momentum and RSI rankings are 2/10 and 54.27 respectively, indicating a weak momentum and neutral market sentiment.
Comparison with the Largest Guru Holder
The largest guru holder of Banc of California Inc's stock is Keeley-Teton Advisors, LLC (Trades, Portfolio). Although the exact share percentage held by Keeley-Teton Advisors, LLC (Trades, Portfolio) is not available, it is clear that Wellington Management Group LLP's holdings in Banc of California Inc are significant, despite the recent reduction.
Conclusion
In conclusion, Wellington Management Group LLP's recent transaction in Banc of California Inc is noteworthy. The reduction in holdings may have a minor impact on the guru's portfolio, but it still maintains a significant stake in the company. The performance of Banc of California Inc's stock since the transaction has been less than stellar, but the company's financial strength and profitability rank suggest potential for future growth. This transaction provides valuable insights for value investors and highlights the importance of keeping a close eye on the movements of prominent gurus in the market.
