Bessemer Group Inc. Reduces Position in Comerica Incorporated $CMA

Bessemer Group Inc. decreased its position in shares of Comerica Incorporated (NYSE:CMA) by 32.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,595 shares of the financial services provider’s stock after selling 3,678 shares during the quarter. Bessemer Group Inc.’s holdings in Comerica were worth $453,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Gen Wealth Partners Inc bought a new position in shares of Comerica during the 1st quarter valued at about $34,000. Geneos Wealth Management Inc. grew its stake in Comerica by 41.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 176 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Comerica during the second quarter valued at approximately $35,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Comerica during the first quarter valued at approximately $55,000. Finally, MAI Capital Management lifted its position in Comerica by 32.1% during the first quarter. MAI Capital Management now owns 942 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Insider Activity at Comerica

In related news, insider James Mcgregor Carr sold 4,000 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.28, for a total value of $269,120.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $140,763.00. Following the transaction, the executive vice president owned 9,424 shares of the company’s stock, valued at approximately $631,690.72. The trade was a 18.22% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is owned by insiders.

Comerica Trading Down 0.6%

NYSE CMA opened at $76.63 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. Comerica Incorporated has a 52 week low of $48.12 and a 52 week high of $83.22. The stock has a market capitalization of $9.79 billion, a PE ratio of 14.62 and a beta of 0.96. The firm has a 50 day moving average of $72.79 and a two-hundred day moving average of $64.73.

Comerica (NYSE:CMA) last issued its earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. The business had revenue of $824.00 million during the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. As a group, research analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CMA. Weiss Ratings cut shares of Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Piper Sandler set a $82.00 price target on shares of Comerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 price target (up previously from $73.00) on shares of Comerica in a research report on Friday, October 10th. Raymond James Financial restated a “market perform” rating on shares of Comerica in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group boosted their price target on shares of Comerica from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.55.

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.