Principal Financial Group Inc. Reduces Stake in Webster Financial Co. (NYSE:WBS)

Principal Financial Group Inc. trimmed its stake in Webster Financial Co. (NYSE:WBS - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 976,415 shares of the financial services provider's stock after selling 57,937 shares during the period. Principal Financial Group Inc. owned 0.57% of Webster Financial worth $53,918,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of WBS. Creative Planning lifted its position in Webster Financial by 7.6% during the third quarter. Creative Planning now owns 39,943 shares of the financial services provider's stock valued at $1,862,000 after buying an additional 2,815 shares during the period. Blue Trust Inc. lifted its position in Webster Financial by 24.7% during the 3rd quarter. Blue Trust Inc. now owns 7,831 shares of the financial services provider's stock valued at $341,000 after acquiring an additional 1,553 shares during the period. Assenagon Asset Management S.A. purchased a new position in Webster Financial during the 3rd quarter valued at about $22,146,000. Arkadios Wealth Advisors lifted its position in Webster Financial by 2.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 80,527 shares of the financial services provider's stock valued at $3,753,000 after acquiring an additional 2,172 shares during the period. Finally, PFG Investments LLC purchased a new position in Webster Financial during the 3rd quarter valued at about $205,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Performance

WBS traded down $1.91 during mid-day trading on Friday, reaching $55.76. 908,543 shares of the company traded hands, compared to its average volume of 954,342. The stock has a market capitalization of $9.56 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.04 and a beta of 1.29. 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 Co. has a 52-week low of $39.33 and a 52-week high of $63.99. The company's fifty day moving average price is $57.65 and its 200-day moving average price is $53.15.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The company had revenue of $661.00 million during the quarter, compared to analysts' expectations of $687.53 million. During the same quarter in the prior year, the business earned $1.46 earnings per share. On average, sell-side analysts expect that Webster Financial Co. will post 5.87 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. Webster Financial's dividend payout ratio is currently 36.61%.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 500 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $61.91, for a total value of $30,955.00. Following the completion of the sale, the insider now owns 17,279 shares in the company, valued at $1,069,742.89. This represents a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Laurence C. Morse sold 13,217 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 of the company's stock, valued at $1,110,988.56. This represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,717 shares of company stock valued at $1,271,123. Insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

WBS has been the subject of several recent research reports. StockNews.com upgraded shares of Webster Financial from a "sell" rating to a "hold" rating in a report on Saturday, January 11th. JPMorgan Chase & Co. lowered their price objective on Webster Financial from $67.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company raised Webster Financial from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $70.00 to $75.00 in a research report on Monday, January 6th. Royal Bank of Canada lifted their price target on Webster Financial from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 21st. Finally, UBS Group initiated coverage on shares of Webster Financial in a report on Tuesday, December 17th. They issued a "buy" rating and a $76.00 target price for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.08.

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.