M&G Plc Acquires 17,746 Shares of Webster Financial Co. (NYSE:WBS)

M&G Plc increased its holdings in Webster Financial Co. (NYSE:WBS) by 9.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,297 shares of the financial services provider’s stock after purchasing an additional 17,746 shares during the period. M&G Plc owned approximately 0.12% of Webster Financial worth $9,743,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WBS. Forum Financial Management LP bought a new stake in shares of Webster Financial during the 3rd quarter worth about $209,000. Janney Montgomery Scott LLC lifted its holdings in Webster Financial by 5.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 36,378 shares of the financial services provider’s stock worth $1,696,000 after purchasing an additional 1,736 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in Webster Financial by 8.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 311 shares during the period. Hartford Financial Management Inc. grew its holdings in Webster Financial by 38.8% during the third quarter. Hartford Financial Management Inc. now owns 2,231 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 624 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Webster Financial by 19.2% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 512,196 shares of the financial services provider’s stock valued at $23,873,000 after purchasing an additional 82,430 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Stock Down 4.0 %

WBS opened at $57.68 on Friday. The company has a market capitalization of $9.89 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.84 and a beta of 1.27. 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 firm’s fifty day moving average price is $48.16 and its two-hundred day moving average price is $45.89. Webster Financial Co. has a fifty-two week low of $38.54 and a fifty-two week high of $60.13.

Webster Financial (NYSE:WBS) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The business had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. During the same quarter last year, the firm posted $1.55 earnings per share. On average, analysts anticipate that Webster Financial Co. will post 5.23 EPS for the current year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be paid a $0.40 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.77%. Webster Financial’s dividend payout ratio is currently 36.28%.

Insider Transactions at Webster Financial

In related news, Director Mark Pettie sold 4,500 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total value of $230,130.00. Following the sale, the director now owns 32,780 shares of the company’s stock, valued at $1,676,369.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the transaction, the director now directly owns 32,780 shares of the company’s stock, valued at $1,676,369.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Javier L. Evans sold 10,137 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the completion of the transaction, the insider now owns 22,657 shares in the company, valued at approximately $1,300,738.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,100 shares of company stock valued at $1,202,237. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

WBS has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company upped their price target on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Barclays raised their price target on Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Morgan Stanley cut their price objective 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. Finally, Royal Bank of Canada raised their target price on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Company 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.