Billionaire Warren Buffett's Berkshire Hathaway has sold some more shares of Bank of America over the past few days, raking in $981.9 million, as the...
- Billionaire Warren Buffett 's Berkshire Hathaway has sold some more shares of Bank of America over the past few days, raking in $981.9 million, as the conglomerate continues to trim down its stake in the second-largest U.S. lender.
Shares of Bank of America were down 0.5% in premarket trading on Wednesday. They have fallen 4.8% over the last month, compared with a 1.7% fall in the KBW Bank Index. The stake sales mark a turnaround from last year when Buffett singled out Bank of America and its CEO Brian Moynihan for praise.After the latest stake sale, Berkshire still remains the bank's largest shareholder, owning 903.8 million shares, worth $35.85 billion based on Tuesday's closing price.Great-West Lifeco announced that Paul Mahon, President and Chief Executive Officer, Great-West Lifeco, will speak at the Scotiabank Financials Summit on Thursday, September 5, 2024.
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