Russell Investments Group Ltd. Trims Stake in Comerica Incorporated (NYSE:CMA)

Russell Investments Group Ltd. lowered its position in Comerica Incorporated (NYSE:CMA) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,343 shares of the financial services provider’s stock after selling 10,376 shares during the quarter. Russell Investments Group Ltd.’s holdings in Comerica were worth $10,848,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CMA. Vaughan Nelson Investment Management L.P. raised its stake in shares of Comerica by 129.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock valued at $107,716,000 after acquiring an additional 1,088,330 shares during the period. North Reef Capital Management LP increased its stake in Comerica by 43.0% in the 3rd quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock worth $119,664,000 after buying an additional 865,870 shares during the period. rhino investment partners Inc increased its stake in Comerica by 684.2% in the 3rd quarter. rhino investment partners Inc now owns 744,956 shares of the financial services provider’s stock worth $30,953,000 after buying an additional 649,956 shares during the period. Artemis Investment Management LLP purchased a new position in Comerica in the 4th quarter worth about $31,018,000. Finally, Adage Capital Partners GP L.L.C. increased its stake in Comerica by 46.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,462,906 shares of the financial services provider’s stock worth $60,784,000 after buying an additional 461,741 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 2.3 %

Shares of Comerica stock opened at $53.07 on Monday. The firm’s 50 day moving average price is $51.69 and its 200-day moving average price is $50.06. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica Incorporated has a 52-week low of $28.40 and a 52-week high of $57.39. The company has a market cap of $7.04 billion, a P/E ratio of 10.55 and a beta of 1.27.

Comerica (NYSE:CMA) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the previous year, the firm earned $2.39 EPS. On average, sell-side analysts predict that Comerica Incorporated will post 5.16 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s payout ratio is 56.46%.

Insider Buying and Selling at Comerica

In related news, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the transaction, 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 accessible through the SEC website. In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the transaction, the executive vice president now directly owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Argus downgraded shares of Comerica from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. UBS Group reduced their price target on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Raymond James cut shares of Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Finally, Evercore ISI increased their target price on shares of Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.98.

Comerica Company 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.