Principal Financial Group Inc. Sells 118,731 Shares of Webster Financial Co. (NYSE:WBS)

Principal Financial Group Inc. lowered its holdings in Webster Financial Co. (NYSE:WBS - Free Report) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,034,352 shares of the financial services provider's stock after selling 118,731 shares during the quarter. Principal Financial Group Inc. owned 0.60% of Webster Financial worth $48,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in shares of Webster Financial in the third quarter worth $27,000. UMB Bank n.a. grew its holdings in Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 460 shares during the period. Hantz Financial Services Inc. bought a new stake in Webster Financial during the second quarter valued at about $32,000. Mather Group LLC. grew its holdings in Webster Financial by 7,650.0% during the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 1,224 shares during the period. Finally, NBC Securities Inc. grew its holdings in Webster Financial by 117.9% during the third quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 686 shares during the period. Hedge funds and other institutional investors own 85.58% of the company's stock.

Webster Financial Price Performance

Shares of NYSE:WBS traded up $2.27 during mid-day trading on Monday, reaching $59.97. The stock had a trading volume of 1,857,556 shares, compared to its average volume of 1,262,269. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a market cap of $10.28 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 0.85 and a beta of 1.27. Webster Financial Co. has a 1 year low of $38.71 and a 1 year high of $61.04. The business's 50 day moving average price is $48.61 and its 200 day moving average price is $46.08.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The company had revenue of $647.62 million for the quarter, compared to analysts' expectations of $677.72 million. During the same quarter last year, the company earned $1.55 earnings per share. Research analysts expect that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. Webster Financial's dividend payout ratio (DPR) is presently 36.28%.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the company's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the sale, the insider now directly owns 19,529 shares in the company, valued at $1,017,460.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Daniel Bley sold 3,463 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.10, for a total value of $180,422.30. Following the sale, the insider now directly owns 19,529 shares in the company, valued at approximately $1,017,460.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Javier L. Evans sold 10,137 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the sale, the insider now owns 22,657 shares in the company, valued at approximately $1,300,738.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,100 shares of company stock worth $1,202,237 over the last ninety days. Company insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WBS shares. Morgan Stanley cut their price target 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. Wedbush boosted their price target on Webster Financial from $52.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, October 18th. JPMorgan Chase & Co. dropped their price objective on Webster Financial from $58.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, October 9th. StockNews.com raised Webster Financial from a "sell" rating to a "hold" rating in a research note on Tuesday, October 29th. Finally, Barclays upped their price objective on Webster Financial from $60.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $57.85.

Webster Financial Company 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.