Russell Investments Group Ltd. Sells 10,376 Shares of Comerica Incorporated (NYSE:CMA)

Russell Investments Group Ltd. cut its holdings in Comerica Incorporated (NYSE:CMA) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,343 shares of the financial services provider’s stock after selling 10,376 shares during the period. Russell Investments Group Ltd. owned about 0.15% of Comerica worth $10,848,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CMA. Fortitude Family Office LLC bought a new position in shares of Comerica in the fourth quarter valued at approximately $36,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Comerica in the fourth quarter valued at approximately $36,000. Authentikos Wealth Advisory LLC bought a new position in shares of Comerica in the third quarter valued at approximately $47,000. FNY Investment Advisers LLC bought a new position in shares of Comerica in the fourth quarter valued at approximately $50,000. Finally, CVA Family Office LLC bought a new position in shares of Comerica in the fourth quarter valued at approximately $56,000. 80.74% of the stock is owned by institutional investors.

Comerica Trading Up 2.3 %

Shares of CMA stock opened at $53.07 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. Comerica Incorporated has a 52-week low of $28.40 and a 52-week high of $57.39. The company has a market capitalization of $7.04 billion, a PE ratio of 10.55 and a beta of 1.27. The business’s fifty day moving average is $51.69 and its 200 day moving average is $50.06.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same quarter last year, the business posted $2.39 earnings per share. On average, equities research analysts anticipate that Comerica Incorporated will post 5.16 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.35%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Wall Street Analyst Weigh In

CMA has been the subject of several research reports. DA Davidson reissued a “neutral” rating and set a $56.00 price objective on shares of Comerica in a report on Wednesday, March 6th. Piper Sandler increased their price objective on Comerica from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Truist Financial reduced their price objective on Comerica from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada increased their price objective on Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Comerica in a report on Wednesday, April 10th. They set a “hold” rating and a $59.00 price objective for the company. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.98.

Insider Activity at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the sale, the executive vice president now owns 7,236 shares of the company’s stock, valued at $380,541.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at $920,840.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the transaction, the executive vice president now owns 7,236 shares in the company, valued at approximately $380,541.24. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Comerica Company 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.