Envestnet Asset Management Inc. Trims Stock Position in Webster Financial Co. (NYSE:WBS)

Envestnet Asset Management Inc. decreased its holdings in Webster Financial Co. (NYSE:WBS) by 21.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 264,200 shares of the financial services provider’s stock after selling 73,013 shares during the quarter. Envestnet Asset Management Inc. owned about 0.15% of Webster Financial worth $11,516,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in shares of Webster Financial by 156.5% in the 1st quarter. BNP Paribas Financial Markets now owns 96,052 shares of the financial services provider’s stock worth $4,877,000 after acquiring an additional 58,602 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Webster Financial by 1,859.1% during the 2nd quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider’s stock worth $684,000 after acquiring an additional 14,891 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Webster Financial in the first quarter worth approximately $3,529,000. Franklin Resources Inc. grew its holdings in Webster Financial by 33.4% in the fourth quarter. Franklin Resources Inc. now owns 119,730 shares of the financial services provider’s stock valued at $6,077,000 after purchasing an additional 29,956 shares during the period. Finally, Groupama Asset Managment acquired a new position in Webster Financial during the fourth quarter worth approximately $20,471,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WBS shares. JPMorgan Chase & Co. reduced their target price on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Morgan Stanley lowered Webster Financial from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $54.00 to $57.00 in a research report on Monday, August 5th. Royal Bank of Canada decreased their price target on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group lowered their target price on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods cut their price target on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Webster Financial presently has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Insider Buying and Selling at Webster Financial

In other news, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the transaction, the insider now owns 20,539 shares of the company’s stock, valued at $951,366.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the transaction, the insider now owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. The disclosure for this sale can be found here. Insiders have sold 14,650 shares of company stock worth $706,098 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Webster Financial Trading Down 2.0 %

NYSE:WBS opened at $45.46 on Thursday. The stock has a fifty day simple moving average of $45.98 and a 200 day simple moving average of $45.60. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 0.71 and a beta of 1.28. Webster Financial Co. has a 1-year low of $36.36 and a 1-year high of $53.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $671.91 million. During the same quarter last year, the company posted $1.50 EPS. Sell-side analysts forecast that Webster Financial Co. will post 5.27 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 dividend on an annualized basis and a yield of 3.52%. Webster Financial’s payout ratio is 32.79%.

About Webster Financial

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.