Webster Financial Co. (NYSE:WBS) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in Webster Financial Co. (NYSE:WBS) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,282 shares of the financial services provider’s stock after selling 3,024 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Webster Financial were worth $3,872,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WBS. Charles Schwab Investment Management Inc. lifted its stake in shares of Webster Financial by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider’s stock valued at $51,556,000 after purchasing an additional 21,026 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its stake in shares of Webster Financial by 98.1% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider’s stock valued at $7,576,000 after purchasing an additional 73,924 shares in the last quarter. FDx Advisors Inc. lifted its stake in shares of Webster Financial by 7.6% in the 3rd quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 408 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Webster Financial by 58.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock valued at $12,874,000 after purchasing an additional 117,437 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Webster Financial by 15.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,725 shares of the financial services provider’s stock valued at $3,375,000 after purchasing an additional 11,387 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Christopher J. Motl sold 10,475 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the sale, the insider now directly owns 63,306 shares in the company, valued at approximately $3,317,234.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Luis Massiani sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the transaction, the chief operating officer now owns 89,621 shares in the company, valued at approximately $4,627,132.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the transaction, the insider now owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,975 shares of company stock worth $1,341,095. 0.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. dropped their target price on Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays dropped their target price on Webster Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James reiterated an “outperform” rating and set a $60.00 target price on shares of Webster Financial in a report on Tuesday, March 26th. Finally, Citigroup dropped their target price on Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.23.

Webster Financial Price Performance

WBS stock opened at $45.02 on Friday. Webster Financial Co. has a 52-week low of $31.03 and a 52-week high of $53.39. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $7.73 billion, a PE ratio of 9.23, a P/E/G ratio of 0.38 and a beta of 1.33. The stock’s 50 day moving average is $47.88 and its two-hundred day moving average is $46.48.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The firm had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter last year, the firm posted $1.49 earnings per share. Webster Financial’s revenue was up .2% compared to the same quarter last year. Analysts predict that Webster Financial Co. will post 5.68 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.55%. Webster Financial’s dividend payout ratio (DPR) 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.