Northwestern Mutual Wealth Management Co. Sells 181 Shares of Comerica Incorporated $CMA

Northwestern Mutual Wealth Management Co. lessened its stake in Comerica Incorporated (NYSE:CMA) by 16.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 892 shares of the financial services provider’s stock after selling 181 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Comerica were worth $53,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Kestra Advisory Services LLC grew its stake in Comerica by 2.5% in the 1st quarter. Kestra Advisory Services LLC now owns 18,832 shares of the financial services provider’s stock worth $1,112,000 after acquiring an additional 459 shares in the last quarter. Compound Planning Inc. lifted its position in shares of Comerica by 9.3% in the 1st quarter. Compound Planning Inc. now owns 4,372 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 372 shares during the period. Rhino Investment Partners Inc lifted its position in shares of Comerica by 35.4% in the 1st quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider’s stock worth $23,191,000 after purchasing an additional 102,647 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Comerica in the 1st quarter worth approximately $55,000. Finally, Wellington Management Group LLP lifted its position in shares of Comerica by 121.7% in the 1st quarter. Wellington Management Group LLP now owns 497,298 shares of the financial services provider’s stock worth $29,370,000 after purchasing an additional 272,969 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Down 2.5%

CMA stock opened at $68.86 on Friday. The firm has a market cap of $8.85 billion, a PE ratio of 13.19, a P/E/G ratio of 12.42 and a beta of 0.97. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The firm’s fifty day moving average is $66.55 and its 200 day moving average is $60.33. Comerica Incorporated has a one year low of $48.12 and a one year high of $73.45.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.19. The business had revenue of $849.00 million for the quarter, compared to the consensus estimate of $844.39 million. Comerica had a net margin of 14.92% and a return on equity of 10.92%. During the same period last year, the firm posted $1.49 earnings per share. On average, research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a yield of 4.1%. Comerica’s dividend payout ratio is 54.41%.

Insiders Place Their Bets

In related news, EVP Allysun C. Fleming sold 2,100 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the transaction, the executive vice president directly owned 9,424 shares of the company’s stock, valued at $631,690.72. This trade represents a 18.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James Mcgregor Carr sold 4,000 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the transaction, the insider directly owned 33,471 shares in the company, valued at $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CMA has been the subject of a number of analyst reports. Piper Sandler increased their target price on shares of Comerica from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods increased their target price on shares of Comerica from $69.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. DA Davidson set a $60.00 price target on shares of Comerica and gave the stock a “neutral” rating in a report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on shares of Comerica from $52.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, July 1st. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Comerica in a report on Tuesday, July 8th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $64.65.

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.