The Manufacturers Life Insurance Company Trims Holdings in Webster Financial Co. (NYSE:WBS)

The Manufacturers Life Insurance Company trimmed its position in Webster Financial Co. (NYSE:WBS) by 6.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,473 shares of the financial services provider’s stock after selling 10,676 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Webster Financial worth $6,687,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of WBS. Dimensional Fund Advisors LP raised its stake in shares of Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after purchasing an additional 1,206,575 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Webster Financial by 64.9% in the second quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock worth $69,927,000 after purchasing an additional 631,080 shares during the last quarter. Bank of Montreal Can raised its position in Webster Financial by 182.7% during the third quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider’s stock valued at $44,496,000 after acquiring an additional 619,934 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Webster Financial during the third quarter valued at approximately $22,146,000. Finally, American Century Companies Inc. raised its position in Webster Financial by 12.9% during the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock valued at $115,096,000 after acquiring an additional 301,935 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.43, for a total transaction of $209,720.00. Following the transaction, the chief accounting officer now owns 14,273 shares in the company, valued at approximately $748,333.39. This trade represents a 21.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel Bley sold 500 shares of Webster Financial stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $61.91, for a total value of $30,955.00. Following the transaction, the insider now owns 17,279 shares in the company, valued at approximately $1,069,742.89. The trade was a 2.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,250 shares of company stock worth $2,105,322. 0.88% of the stock is owned by corporate insiders.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $60.35 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50 day moving average price is $53.48 and its 200-day moving average price is $47.80. The firm has a market capitalization of $10.34 billion, a PE ratio of 13.68, a P/E/G ratio of 0.90 and a beta of 1.29. Webster Financial Co. has a 1 year low of $39.33 and a 1 year high of $63.99.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million for the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter in the previous year, the business posted $1.55 EPS. As a group, equities research analysts expect that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. Webster Financial’s payout ratio is 36.28%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WBS. Morgan Stanley reduced their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Wedbush lifted their price target on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. StockNews.com cut Webster Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company raised their price objective on Webster Financial from $60.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Webster Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.62.

Webster Financial Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.