Adage Capital Partners Gp LLC Increased Position in Wells Fargo & Co New (WFC)

July 18, 2017 - By Ellis Scott

Investors sentiment decreased to 0.67 in 2016 Q4. Its down 0.30, from 0.97 in 2016Q3. It dropped, as 112 investors sold WFC shares while 836 reduced holdings. 149 funds opened positions while 487 raised stakes. 3.70 billion shares or 2.97% more from 3.60 billion shares in 2016Q3 were reported. Fairfax Ltd Can reported 65,800 shares. Gotham Asset Mngmt Ltd Liability Corporation, New York-based fund reported 156,836 shares. Ejf Cap Limited Co holds 5,000 shares or 0.02% of its portfolio. Numeric Invsts Ltd Limited Liability Company stated it has 0.1% of its portfolio in Wells Fargo & Co (NYSE:WFC). 62.16 million are owned by Savings Bank Of America De. Dimensional Fund Advisors Lp holds 23.85M shares. Virtu Financial Ltd Liability reported 119,109 shares. Rockland Tru holds 321,462 shares. Bush Odonnell Investment Advisors Inc has 4.71% invested in Wells Fargo & Co (NYSE:WFC) for 128,070 shares. 19,658 were reported by Northstar Gru Inc. Campbell Newman Asset Management has 296,537 shares. Homrich & Berg reported 29,118 shares or 0.15% of all its holdings. 8,401 were accumulated by Mesirow Fincl Invest Mngmt. Beach Inv Counsel Pa reported 16,537 shares stake. Bnp Paribas Arbitrage invested in 0.47% or 1.81M shares.

Since March 3, 2017, it had 1 insider buy, and 7 sales for $397.31 million activity. SARGENT RONALD bought 9,050 shares worth $499,108. BERKSHIRE HATHAWAY INC sold 7.13 million shares worth $383.92 million. CARROLL DAVID M sold $6.95M worth of stock or 117,704 shares. Hardison Hope A. also sold $1.04 million worth of Wells Fargo & Co (NYSE:WFC) shares. On Monday, June 12 the insider Pelos Petros G sold $1.34 million. $2.05 million worth of stock was sold by Mack Mary T on Thursday, June 8. The insider Loughlin Michael J sold 20,000 shares worth $1.04M.

Phill Gross increased its stake in Wells Fargo & Co New (WFC) by 62.38% based on its latest 2016Q4 regulatory filing with the SEC. Adage Capital Partners Gp Llc bought 4.17 million shares as the company’s stock declined 8.66% while stock markets rallied. The hedge fund run by Phill Gross held 10.86 million shares of the major banks company at the end of 2016Q4, valued at $598.65 million, up from 6.69 million at the end of the previous reported quarter. Adage Capital Partners Gp Llc who had been investing in Wells Fargo & Co New for a number of months, seems to be bullish on the $272.01B market cap company. The stock decreased 0.51% or $0.28 during the last trading session, reaching $54.71. About shares traded. Wells Fargo & Co (NYSE:WFC) has risen 9.67% since July 18, 2016 and is uptrending. It has underperformed by 7.03% the S&P500.

Adage Capital Partners Gp Llc, which manages about $36.61 billion US Long portfolio, decreased its stake in Cvs Health Corp (NYSE:CVS) by 156,200 shares to 1.40 million shares, valued at $110.75M in 2016Q4, according to the filing. It also reduced its holding in United Technologies Corp (NYSE:UTX) by 30,901 shares in the quarter, leaving it with 1.01M shares, and cut its stake in Cisco Sys Inc (NASDAQ:CSCO).

More notable recent Wells Fargo & Co (NYSE:WFC) news were published by: which released: “Wells Fargo sells commercial insurance unit to USI Insurance” on June 28, 2017, also with their article: “Earnings Preview: What To Expect From Wells Fargo On Friday” published on July 13, 2017, published: “Wells Fargo trims auto loans as market cools, risk overhaul kicks in” on July 12, 2017. More interesting news about Wells Fargo & Co (NYSE:WFC) were released by: and their article: “Wells Fargo to sell commercial insurance business” published on June 27, 2017 as well as‘s news article titled: “High expenses cast cloud over Wells Fargo earnings beat” with publication date: July 14, 2017.

Wells Fargo & Co (NYSE:WFC) Ratings Coverage

Among 31 analysts covering Wells Fargo & Company (NYSE:WFC), 13 have Buy rating, 5 Sell and 13 Hold. Therefore 42% are positive. Wells Fargo & Company has $67 highest and $44 lowest target. $56.12’s average target is 2.58% above currents $54.71 stock price. Wells Fargo & Company had 76 analyst reports since July 29, 2015 according to SRatingsIntel. The rating was upgraded by Keefe Bruyette & Woods on Wednesday, April 5 to “Outperform”. Piper Jaffray upgraded the stock to “Neutral” rating in Tuesday, April 11 report. On Tuesday, January 3 the stock rating was maintained by Barclays Capital with “Overweight”. S&P Research maintained it with “Buy” rating and $62 target in Thursday, August 13 report. The firm has “Neutral” rating by Piper Jaffray given on Tuesday, November 24. The firm has “Neutral” rating given on Tuesday, November 15 by Guggenheim. UBS initiated the stock with “Sell” rating in Thursday, March 24 report. Keefe Bruyette & Woods upgraded the stock to “Outperform” rating in Tuesday, January 12 report. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, October 16 report. The stock has “Buy” rating by RBC Capital Markets on Thursday, June 22.

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