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

Corebridge Financial Inc. trimmed its stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 193,950 shares of the financial services provider's stock after selling 8,764 shares during the period. Corebridge Financial Inc. owned about 0.11% of Webster Financial worth $10,710,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. HighTower Advisors LLC boosted its position in Webster Financial by 0.6% during the fourth quarter. HighTower Advisors LLC now owns 32,155 shares of the financial services provider's stock worth $1,776,000 after purchasing an additional 177 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Webster Financial by 0.9% during the 4th quarter. Sanctuary Advisors LLC now owns 19,336 shares of the financial services provider's stock worth $1,163,000 after buying an additional 178 shares during the last quarter. Cardinal Capital Management boosted its position in shares of Webster Financial by 0.4% in the 4th quarter. Cardinal Capital Management now owns 49,983 shares of the financial services provider's stock worth $2,760,000 after buying an additional 189 shares in the last quarter. US Bancorp DE grew its stake in Webster Financial by 2.8% in the 4th quarter. US Bancorp DE now owns 7,143 shares of the financial services provider's stock valued at $394,000 after acquiring an additional 192 shares during the last quarter. Finally, Penbrook Management LLC increased its holdings in Webster Financial by 4.3% during the 4th quarter. Penbrook Management LLC now owns 4,830 shares of the financial services provider's stock valued at $267,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

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Insiders Place Their Bets

In other Webster Financial news, Director Laurence C. Morse sold 13,217 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total transaction of $780,728.19. Following the completion of the sale, the director now directly owns 18,808 shares in the company, valued at $1,110,988.56. The trade was a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.43, for a total transaction of $459,440.00. Following the completion of the transaction, the chief executive officer now directly owns 210,051 shares in the company, valued at approximately $12,063,228.93. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company raised shares of Webster Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $70.00 to $75.00 in a report on Monday, January 6th. Morgan Stanley reduced their target price on Webster Financial from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Barclays raised their price target on Webster Financial from $63.00 to $69.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. reduced their price objective on Webster Financial from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Finally, UBS Group assumed coverage on Webster Financial in a research report on Tuesday, December 17th. They set a "buy" rating and a $76.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.36.

Webster Financial Trading Up 1.1 %

Shares of WBS traded up $0.56 during mid-day trading on Monday, hitting $51.59. The company had a trading volume of 1,367,516 shares, compared to its average volume of 1,230,622. Webster Financial Co. has a 1-year low of $39.34 and a 1-year high of $63.99. The business's 50-day simple moving average is $55.60 and its 200-day simple moving average is $54.64. The stock has a market cap of $8.84 billion, a PE ratio of 11.80, a P/E/G ratio of 1.02 and a beta of 1.28. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.08. The company had revenue of $661.00 million for the quarter, compared to analyst estimates of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same quarter last year, the business earned $1.46 EPS. Sell-side analysts forecast that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Monday, February 10th. Webster Financial's dividend payout ratio (DPR) is presently 36.61%.

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.