Comerica Incorporated (NYSE:CMA) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lowered its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 27.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,910 shares of the financial services provider's stock after selling 43,443 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.09% of Comerica worth $7,102,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CMA. Canada Pension Plan Investment Board increased its stake in Comerica by 548.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider's stock valued at $39,732,000 after purchasing an additional 543,400 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new stake in shares of Comerica during the 4th quarter worth approximately $272,000. Marshall Wace LLP acquired a new position in Comerica during the 4th quarter valued at approximately $9,290,000. Zacks Investment Management grew its stake in Comerica by 43.4% during the 4th quarter. Zacks Investment Management now owns 18,590 shares of the financial services provider's stock worth $1,150,000 after buying an additional 5,629 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in Comerica by 6.1% in the fourth quarter. NewEdge Advisors LLC now owns 39,183 shares of the financial services provider's stock worth $2,423,000 after buying an additional 2,254 shares during the period. Institutional investors own 80.74% of the company's stock.

Comerica Price Performance

Shares of NYSE:CMA opened at $51.51 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $6.76 billion, a PE ratio of 10.26 and a beta of 0.96. The stock has a fifty day moving average of $58.25 and a 200-day moving average of $62.79. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. The business had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the company posted $1.29 EPS. As a group, equities analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.51%. Comerica's dividend payout ratio is currently 56.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CMA shares. JPMorgan Chase & Co. lowered shares of Comerica from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $64.00 to $52.00 in a research report on Tuesday. Raymond James dropped their price target on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley downgraded Comerica from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Robert W. Baird lowered their target price on Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday. Finally, Barclays boosted their price target on Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $62.84.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.

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