Securian Asset Management Inc. Reduces Stock Position in Webster Financial Co. (NYSE:WBS)

Securian Asset Management Inc. lessened its stake in shares of Webster Financial Co. (NYSE:WBS) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,958 shares of the financial services provider’s stock after selling 372 shares during the quarter. Securian Asset Management Inc.’s holdings in Webster Financial were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. purchased a new stake in Webster Financial during the 4th quarter worth about $269,000. Park Avenue Securities LLC purchased a new stake in Webster Financial during the 4th quarter worth about $246,000. HighTower Advisors LLC increased its position in Webster Financial by 6.8% during the 3rd quarter. HighTower Advisors LLC now owns 31,978 shares of the financial services provider’s stock worth $1,488,000 after purchasing an additional 2,032 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Webster Financial by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,468,942 shares of the financial services provider’s stock worth $68,467,000 after purchasing an additional 34,373 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Webster Financial by 8.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 89,202 shares of the financial services provider’s stock valued at $4,158,000 after buying an additional 6,964 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 3.9 %

Shares of NYSE WBS opened at $50.40 on Monday. Webster Financial Co. has a 12-month low of $39.34 and a 12-month high of $63.99. The company has a market cap of $8.64 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.02 and a beta of 1.28. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $56.65 and a 200 day moving average price of $54.15.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The firm had revenue of $661.00 million during the quarter, compared to the consensus estimate of $687.53 million. During the same period in the prior year, the firm earned $1.46 EPS. Research analysts anticipate that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued a $0.40 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.60 annualized dividend and a yield of 3.17%. Webster Financial’s dividend payout ratio is currently 36.61%.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, Director Laurence C. Morse sold 13,217 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the completion of the transaction, the director now directly owns 18,808 shares of the company’s stock, valued at $1,110,988.56. This represents a 41.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.43, for a total transaction of $459,440.00. Following the completion of the transaction, the chief executive officer now directly owns 210,051 shares of the company’s stock, valued at approximately $12,063,228.93. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on WBS shares. Wells Fargo & Company upgraded Webster Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $75.00 in a report on Monday, January 6th. Royal Bank of Canada lifted their price target on Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. UBS Group started coverage on Webster Financial in a report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley lowered their price target on Webster Financial from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.08.

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.