Principal Financial Group Inc. Has $19.56 Million Stake in Comerica Incorporated $CMA

Principal Financial Group Inc. reduced its stake in shares of Comerica Incorporated (NYSE:CMA) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,439 shares of the financial services provider’s stock after selling 12,492 shares during the period. Principal Financial Group Inc. owned 0.22% of Comerica worth $19,558,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Comerica by 466.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,291,514 shares of the financial services provider’s stock valued at $499,615,000 after acquiring an additional 6,003,703 shares in the last quarter. Norges Bank acquired a new position in Comerica during the second quarter valued at approximately $97,138,000. Primecap Management Co. CA raised its position in shares of Comerica by 55.3% in the second quarter. Primecap Management Co. CA now owns 2,593,800 shares of the financial services provider’s stock valued at $154,720,000 after purchasing an additional 923,690 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Comerica in the second quarter valued at approximately $31,365,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Comerica in the second quarter worth $12,477,000. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

Shares of NYSE CMA opened at $90.98 on Monday. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 17.20 and a beta of 1.04. Comerica Incorporated has a one year low of $48.12 and a one year high of $99.41. The business has a fifty day simple moving average of $89.52 and a 200 day simple moving average of $78.67. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.18. Comerica had a net margin of 15.07% and a return on equity of 10.74%. The firm had revenue of $850.00 million for the quarter, compared to analyst estimates of $851.32 million. During the same quarter in the previous year, the firm posted $1.20 EPS. Sell-side analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Insider Activity at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 8,864 shares of Comerica stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $94.47, for a total transaction of $837,382.08. Following the sale, the executive vice president directly owned 4,785 shares of the company’s stock, valued at approximately $452,038.95. The trade was a 64.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Harry Weber sold 8,798 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $98.04, for a total value of $862,555.92. Following the completion of the transaction, the executive vice president directly owned 20,543 shares of the company’s stock, valued at approximately $2,014,035.72. The trade was a 29.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,662 shares of company stock valued at $2,680,538 over the last quarter. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CMA has been the topic of a number of research analyst reports. UBS Group upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research note on Tuesday, January 6th. Evercore set a $89.00 price target on shares of Comerica in a report on Tuesday, January 6th. Citigroup lifted their price objective on Comerica from $82.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 30th. TD Cowen restated a “hold” rating on shares of Comerica in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company raised their target price on Comerica from $65.00 to $97.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $79.56.

Comerica Company Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.