Webster Financial Co. (NYSE:WBS) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Webster Financial Co. (NYSE:WBS) by 2.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,149 shares of the financial services provider’s stock after selling 3,987 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Webster Financial worth $6,719,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WBS. Maverick Capital Ltd. lifted its position in shares of Webster Financial by 327.4% during the 2nd quarter. Maverick Capital Ltd. now owns 27,060 shares of the financial services provider’s stock valued at $1,180,000 after acquiring an additional 20,728 shares during the last quarter. Earnest Partners LLC raised its position in Webster Financial by 0.4% during the second quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock valued at $134,524,000 after buying an additional 13,487 shares during the period. AQR Capital Management LLC lifted its position in shares of Webster Financial by 8.0% in the second quarter. AQR Capital Management LLC now owns 250,025 shares of the financial services provider’s stock worth $10,564,000 after purchasing an additional 18,627 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Webster Financial during the second quarter valued at approximately $319,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Webster Financial during the 2nd quarter valued at $69,000. Institutional investors own 85.58% of the company’s stock.

Insider Buying and Selling at Webster Financial

In other news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the transaction, the insider now owns 45,157 shares in the company, valued at $2,215,853.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the transaction, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason A. Soto sold 1,650 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the transaction, the insider now owns 20,539 shares of the company’s stock, valued at $951,366.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,650 shares of company stock valued at $706,098. Company insiders own 0.88% of the company’s stock.

Webster Financial Stock Up 2.6 %

Shares of NYSE:WBS opened at $45.64 on Friday. The company has a market capitalization of $7.83 billion, a PE ratio of 9.35, a P/E/G ratio of 0.66 and a beta of 1.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial Co. has a 52 week low of $36.36 and a 52 week high of $53.39. The company’s fifty day moving average is $45.64 and its 200-day moving average is $45.47.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.08). Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $671.91 million. During the same period in the prior year, the firm posted $1.50 earnings per share. Equities research analysts predict that Webster Financial Co. will post 5.27 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 annualized dividend and a yield of 3.51%. Webster Financial’s dividend payout ratio is presently 32.79%.

Analysts Set New Price Targets

WBS has been the subject of several recent research reports. 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 report on Monday, September 30th. Royal Bank of Canada cut their target price on Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price target on Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Barclays cut their price objective on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.40.

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.