Principal Financial Group Inc. Sells 6,453 Shares of Webster Financial Co. (WBS)

Principal Financial Group Inc. lessened its position in shares of Webster Financial Co. (NYSE:WBS) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 404,424 shares of the financial services provider’s stock after selling 6,453 shares during the period. Principal Financial Group Inc. owned approximately 0.44% of Webster Financial worth $19,934,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of WBS. Torray LLC boosted its position in Webster Financial by 1.2% during the 4th quarter. Torray LLC now owns 21,928 shares of the financial services provider’s stock valued at $1,081,000 after buying an additional 252 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in Webster Financial by 8.6% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,419 shares of the financial services provider’s stock valued at $168,000 after buying an additional 271 shares during the period. Private Capital Group LLC boosted its position in Webster Financial by 3.7% during the 4th quarter. Private Capital Group LLC now owns 7,922 shares of the financial services provider’s stock valued at $390,000 after buying an additional 286 shares during the period. Advisor Group Inc. boosted its position in Webster Financial by 8.0% during the 4th quarter. Advisor Group Inc. now owns 4,398 shares of the financial services provider’s stock valued at $217,000 after buying an additional 327 shares during the period. Finally, Retirement Systems of Alabama boosted its position in Webster Financial by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 119,590 shares of the financial services provider’s stock valued at $5,895,000 after buying an additional 402 shares during the period. 91.38% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Webster Financial from a “buy” rating to a “hold” rating in a report on Sunday, January 6th. ValuEngine upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Boenning Scattergood reiterated a “hold” rating on shares of Webster Financial in a research note on Thursday, January 24th. Finally, Barclays decreased their price target on shares of Webster Financial from $68.00 to $62.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Webster Financial currently has a consensus rating of “Hold” and an average target price of $62.67.

NYSE:WBS traded down $1.40 on Friday, reaching $51.66. 1,035,653 shares of the stock traded hands, compared to its average volume of 517,925. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.83 and a current ratio of 0.81. The firm has a market cap of $4.77 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.56 and a beta of 1.19. Webster Financial Co. has a 12 month low of $45.38 and a 12 month high of $69.63.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.05. The firm had revenue of $310.20 million for the quarter, compared to the consensus estimate of $310.46 million. Webster Financial had a net margin of 27.57% and a return on equity of 13.77%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 EPS. On average, equities research analysts predict that Webster Financial Co. will post 4.14 EPS for the current year.

In other Webster Financial news, Director James Copenhaver Smith sold 45,859 shares of Webster Financial stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $53.94, for a total transaction of $2,473,634.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Joseph Crawford sold 1,207 shares of Webster Financial stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $55.85, for a total transaction of $67,410.95. Following the sale, the director now owns 18,008 shares in the company, valued at approximately $1,005,746.80. The disclosure for this sale can be found here. Insiders have sold 102,066 shares of company stock worth $5,569,345 in the last ninety days. Insiders own 1.53% of the company’s stock.

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About Webster Financial

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

Further Reading: Hedge Funds Explained

Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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