Wellington Management Group LLP Has $25.80 Million Stake in Webster Financial Co. (NYSE:WBS)

Wellington Management Group LLP cut its stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 39.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 467,244 shares of the financial services provider's stock after selling 303,440 shares during the quarter. Wellington Management Group LLP owned about 0.27% of Webster Financial worth $25,801,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Webster Financial by 4.8% in the third quarter. State Street Corp now owns 7,320,930 shares of the financial services provider's stock valued at $341,229,000 after acquiring an additional 333,606 shares in the last quarter. Geode Capital Management LLC lifted its position in Webster Financial by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,969,928 shares of the financial services provider's stock valued at $138,465,000 after buying an additional 54,613 shares in the last quarter. Norges Bank acquired a new stake in Webster Financial in the 4th quarter valued at $120,497,000. Sei Investments Co. raised its holdings in shares of Webster Financial by 7.0% during the 4th quarter. Sei Investments Co. now owns 1,975,992 shares of the financial services provider's stock valued at $109,114,000 after buying an additional 129,675 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Webster Financial by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider's stock valued at $83,253,000 after purchasing an additional 38,713 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Webster Financial Price Performance

NYSE:WBS traded up $0.05 during mid-day trading on Friday, reaching $42.24. 1,840,195 shares of the company were exchanged, compared to its average volume of 1,261,812. Webster Financial Co. has a 12 month low of $39.34 and a 12 month high of $63.99. The stock has a market cap of $7.24 billion, a PE ratio of 9.67, a PEG ratio of 1.02 and a beta of 1.05. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average of $52.33 and a 200 day moving average of $54.38.

Webster Financial (NYSE:WBS - Get Free Report) last issued 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. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The business had revenue of $661.00 million during the quarter, compared to analyst estimates of $687.53 million. During the same quarter last year, the business posted $1.46 earnings per share. On average, research analysts anticipate that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed 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 was Monday, February 10th. This represents a $1.60 annualized dividend and a yield of 3.79%. Webster Financial's dividend payout ratio is currently 36.61%.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.43, for a total transaction of $459,440.00. Following the transaction, the chief executive officer now directly owns 210,051 shares in the company, valued at approximately $12,063,228.93. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Laurence C. Morse sold 13,217 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the completion of the sale, the director now owns 18,808 shares of the company's stock, valued at $1,110,988.56. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on WBS shares. Wells Fargo & Company reduced their price objective on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday. Raymond James reduced their price objective on Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley reduced their target price on shares of Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Barclays cut their target price on Webster Financial from $80.00 to $72.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, StockNews.com raised shares of Webster Financial from a "sell" rating to a "hold" rating in a report on Saturday, January 11th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $61.92.

Webster Financial 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.