Webster Financial Co. (NYSE:WBS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Webster Financial Co. (NYSE:WBS) by 10.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,034,352 shares of the financial services provider’s stock after selling 118,731 shares during the period. Principal Financial Group Inc. owned about 0.60% of Webster Financial worth $48,211,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Webster Financial in the 3rd quarter worth about $27,000. UMB Bank n.a. increased its position in shares of Webster Financial by 340.7% in the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after buying an additional 460 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Webster Financial in the second quarter valued at approximately $32,000. Brooklyn Investment Group acquired a new position in shares of Webster Financial during the 3rd quarter worth approximately $53,000. Finally, NBC Securities Inc. lifted its position in shares of Webster Financial by 117.9% during the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after buying an additional 686 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

WBS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley reduced their price target on shares of 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. Wells Fargo & Company lifted their price objective on Webster Financial from $60.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Wedbush increased their target price on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada lifted their price target on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $60.31.

Webster Financial Trading Up 1.6 %

Shares of WBS stock opened at $54.99 on Monday. Webster Financial Co. has a twelve month low of $39.33 and a twelve month high of $63.99. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.87 and a beta of 1.29. The company’s 50-day moving average price is $56.74 and its 200-day moving average price is $49.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS) last posted its quarterly 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). The firm had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period last year, the company earned $1.55 EPS. As a group, equities analysts predict that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were given a $0.40 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.91%. Webster Financial’s dividend payout ratio is currently 36.28%.

Insider Activity

In related news, CAO Albert Jen-Wen Wang sold 4,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the sale, the chief accounting officer now directly owns 14,273 shares in the company, valued at approximately $748,333.39. The trade was a 21.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Bley sold 3,463 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the transaction, the insider now directly owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This trade represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,250 shares of company stock valued at $2,105,322 in the last quarter. Insiders own 0.88% of the company’s stock.

About Webster Financial

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.