Louisiana State Employees Retirement System Acquires 200 Shares of Comerica Incorporated $CMA

Louisiana State Employees Retirement System increased its holdings in shares of Comerica Incorporated (NYSE:CMA) by 0.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,000 shares of the financial services provider’s stock after purchasing an additional 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Comerica were worth $2,207,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Comerica by 9.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock worth $325,308,000 after acquiring an additional 472,409 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Comerica by 5.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,663,441 shares of the financial services provider’s stock worth $275,423,000 after acquiring an additional 231,885 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of 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 worth $137,107,000 after acquiring an additional 203,333 shares in the last quarter. Azora Capital LP grew its stake in shares of 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 in the last quarter. Finally, Primecap Management Co. CA grew its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $140,763.00. Following the completion of the sale, the executive vice president owned 9,424 shares of the company’s stock, valued at approximately $631,690.72. This trade represents a 18.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction on Friday, August 8th. The stock was 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 of the company’s stock, valued at $2,251,928.88. This represents a 10.67% decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Comerica Trading Down 5.4%

CMA stock opened at $75.88 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The company has a fifty day moving average price of $69.93 and a two-hundred day moving average price of $62.18. Comerica Incorporated has a one year low of $48.12 and a one year high of $83.22. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 14.35 and a beta of 0.96.

Comerica (NYSE:CMA) last released its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The firm had revenue of $824.00 million during the quarter. Equities analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.7%. Comerica’s dividend payout ratio (DPR) is currently 54.41%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CMA shares. UBS Group set a $64.00 price target on shares of Comerica and gave the stock a “neutral” rating in a research note on Monday, July 21st. Cowen started coverage on shares of Comerica in a research note on Wednesday, September 24th. They set a “hold” rating for the company. Citigroup raised their price target on shares of Comerica from $54.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. TD Cowen initiated coverage on shares of Comerica in a report on Thursday, September 25th. They set a “hold” rating and a $75.00 target price on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Comerica in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $71.55.

About Comerica

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.