AE Wealth Management LLC Has $614,000 Holdings in Comerica Incorporated $CMA

AE Wealth Management LLC decreased its holdings in Comerica Incorporated (NYSE:CMA) by 91.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,297 shares of the financial services provider’s stock after selling 115,629 shares during the quarter. AE Wealth Management LLC’s holdings in Comerica were worth $614,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMA. Dimensional Fund Advisors LP lifted its holdings in shares of Comerica by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock valued at $325,308,000 after purchasing an additional 472,409 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Comerica by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,663,441 shares of the financial services provider’s stock valued at $275,423,000 after buying an additional 231,885 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Comerica by 9.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider’s stock valued at $137,107,000 after acquiring an additional 203,333 shares in the last quarter. Azora Capital LP boosted its holdings in Comerica by 53.7% during the 1st quarter. Azora Capital LP now owns 1,899,198 shares of the financial services provider’s stock worth $112,167,000 after acquiring an additional 663,513 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings in Comerica by 228.8% during the 1st quarter. Primecap Management Co. CA now owns 1,670,110 shares of the financial services provider’s stock worth $98,637,000 after acquiring an additional 1,162,110 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Comerica Trading Up 0.2%

Shares of Comerica stock opened at $78.29 on Friday. The stock has a market capitalization of $10.00 billion, a P/E ratio of 14.94 and a beta of 1.04. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $83.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50-day simple moving average is $74.43 and its 200 day simple moving average is $66.35.

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

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, December 15th. Comerica’s payout ratio is currently 54.20%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CMA shares. Morgan Stanley upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 target price for the company in a report on Tuesday, October 7th. Cowen started coverage on shares of Comerica in a research note on Wednesday, September 24th. They issued a “hold” rating for the company. Piper Sandler set a $82.00 target price on shares of Comerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Stephens restated an “equal weight” rating on shares of Comerica in a research note on Monday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $93.00 target price (up from $73.00) on shares of Comerica in a report on Friday, October 10th. Three equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.