SG Americas Securities LLC Sells 14,275 Shares of Comerica Incorporated (NYSE:CMA)

SG Americas Securities LLC decreased its holdings in Comerica Incorporated (NYSE:CMA) by 78.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,918 shares of the financial services provider’s stock after selling 14,275 shares during the period. SG Americas Securities LLC’s holdings in Comerica were worth $219,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CMA. Almanack Investment Partners LLC. bought a new stake in Comerica in the third quarter worth about $38,000. Chilton Capital Management LLC bought a new stake in Comerica in the first quarter worth about $28,000. Fortitude Family Office LLC bought a new stake in Comerica in the fourth quarter worth about $36,000. Money Concepts Capital Corp bought a new stake in Comerica in the fourth quarter worth about $50,000. Finally, Comerica Bank bought a new stake in Comerica in the second quarter worth about $320,000. Institutional investors own 80.74% of the company’s stock.

Insiders Place Their Bets

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares in the company, valued at $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Comerica Stock Performance

Shares of CMA stock opened at $51.24 on Friday. The firm’s 50 day moving average price is $51.37 and its 200-day moving average price is $48.88. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.94 and a current ratio of 0.94. Comerica Incorporated has a one year low of $28.40 and a one year high of $57.39. The firm has a market cap of $6.79 billion, a P/E ratio of 7.96 and a beta of 1.27.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.38 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $826.07 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same period in the prior year, the business posted $2.58 EPS. As a group, equities research analysts predict that Comerica Incorporated will post 5.12 EPS for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.71 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.54%. Comerica’s dividend payout ratio (DPR) is presently 44.10%.

Analysts Set New Price Targets

Several brokerages have issued reports on CMA. Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a research note on Wednesday. They issued a “hold” rating and a $59.00 price objective for the company. Stephens reaffirmed an “overweight” rating and set a $64.00 target price on shares of Comerica in a research report on Wednesday, March 6th. Morgan Stanley raised their target price on shares of Comerica from $45.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. TheStreet raised shares of Comerica from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Finally, Argus lowered shares of Comerica from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.67.

Comerica 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.