Brown Brothers Harriman & Co Has Boosted Wells Fargo & Co (WFC) Stake by $29.57 Million

December 8, 2017 - By Winifred Garcia

Investors sentiment increased to 0.88 in Q2 2017. Its up 0.12, from 0.76 in 2017Q1. It increased, as 85 investors sold WFC shares while 685 reduced holdings. 110 funds opened positions while 566 raised stakes. 3.66 billion shares or 1.73% less from 3.73 billion shares in 2017Q1 were reported. Grand Jean Cap Management invested in 152,738 shares or 3.23% of the stock. Eads & Heald Investment Counsel holds 0.97% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 27,263 shares. Chesley Taft & Assoc Llc has 112,054 shares. Seaward Mngmt Limited Partnership holds 115,969 shares. Blue Edge Cap Ltd Llc has 25,095 shares. Neumann reported 30,165 shares. Wright Ser accumulated 22,490 shares or 0.47% of the stock. Guardian Capital Advisors Ltd Partnership invested in 1.51% or 188,529 shares. Ameritas Inv Prtn Inc owns 103,878 shares. Tradewinds Mngmt Ltd Limited Liability Company, Washington-based fund reported 4,183 shares. Greenwood Gearhart Inc holds 1.76% in Wells Fargo & Company (NYSE:WFC) or 83,024 shares. Northpointe Cap Llc accumulated 89,822 shares. 18,600 are held by Palisade Ltd Com Nj. Moreover, Smith & Howard Wealth Mgmt Ltd has 0.12% invested in Wells Fargo & Company (NYSE:WFC). Ig Management Limited has invested 0.67% of its portfolio in Wells Fargo & Company (NYSE:WFC).

Since June 8, 2017, it had 0 buys, and 1 sale for $1.34 million activity. The insider Mack Mary T sold 38,988 shares worth $2.05 million.

Brown Brothers Harriman & Co increased its stake in Wells Fargo & Co (WFC) by 3.04% based on its latest 2017Q2 regulatory filing with the SEC. Brown Brothers Harriman & Co bought 537,624 shares as the company’s stock declined 8.66% while stock markets rallied. The institutional investor held 18.21 million shares of the major banks company at the end of 2017Q2, valued at $1.01B, up from 17.67 million at the end of the previous reported quarter. Brown Brothers Harriman & Co who had been investing in Wells Fargo & Co for a number of months, seems to be bullish on the $292.30 billion market cap company. The stock increased 1.35% or $0.79 during the last trading session, reaching $59.36. About 32.99 million shares traded or 78.86% up from the average. Wells Fargo & Company (NYSE:WFC) has risen 9.67% since December 8, 2016 and is uptrending. It has underperformed by 7.03% the S&P500.

Brown Brothers Harriman & Co, which manages about $12.77B and $18.44B US Long portfolio, decreased its stake in Nielsen Holdings Plc by 326,959 shares to 9.76M shares, valued at $377.27M in 2017Q2, according to the filing. It also reduced its holding in Wal (NYSE:WMT) by 2.70 million shares in the quarter, leaving it with 2.58M shares, and cut its stake in Microsoft Corp (NASDAQ:MSFT).

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Reuters.com which released: “Exclusive: Wells Fargo sanctions are on ice under Trump official – sources” on December 07, 2017, also Fool.com with their article: “Better Buy: Wells Fargo & Company vs. Bank of America” published on November 30, 2017, Seekingalpha.com published: “Mulvaney weighs Wells Fargo penalties” on December 08, 2017. More interesting news about Wells Fargo & Company (NYSE:WFC) were released by: Thestreet.com and their article: “Big Banks Wells Fargo and Bank America Start Giving Cash Away” published on December 05, 2017 as well as Reuters.com‘s news article titled: “New York pension fund seeks more pay disclosure from Wells Fargo” with publication date: December 07, 2017.

Wells Fargo & Company (NYSE:WFC) Ratings Coverage

Among 33 analysts covering Wells Fargo & Company (NYSE:WFC), 14 have Buy rating, 5 Sell and 14 Hold. Therefore 42% are positive. Wells Fargo & Company had 104 analyst reports since July 29, 2015 according to SRatingsIntel. The firm has “Buy” rating by Deutsche Bank given on Tuesday, September 8. The firm has “Neutral” rating given on Wednesday, January 11 by UBS. Berenberg initiated the stock with “Hold” rating in Wednesday, July 13 report. The firm earned “Sell” rating on Tuesday, August 8 by Raymond James. As per Friday, November 10, the company rating was maintained by Robert W. Baird. The rating was upgraded by Goldman Sachs to “Buy” on Monday, January 11. The firm has “Outperform” rating by Evercore given on Wednesday, April 19. The firm earned “Hold” rating on Wednesday, April 12 by Sandler O’Neill. The stock of Wells Fargo & Company (NYSE:WFC) earned “Neutral” rating by Guggenheim on Wednesday, April 6. The firm has “Hold” rating given on Friday, September 15 by Jefferies.

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