Legal & General Group Plc raised its position in Webster Financial Corporation (NYSE:WBS) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,014 shares of the financial services provider’s stock after purchasing an additional 6,347 shares during the quarter. Legal & General Group Plc owned 0.11% of Webster Financial Corporation worth $5,065,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Webster Financial Corporation by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 15,857 shares of the financial services provider’s stock worth $793,000 after acquiring an additional 49 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Webster Financial Corporation by 0.7% during the first quarter. Janney Montgomery Scott LLC now owns 15,869 shares of the financial services provider’s stock worth $794,000 after purchasing an additional 112 shares in the last quarter. World Asset Management Inc grew its stake in shares of Webster Financial Corporation by 2.2% during the second quarter. World Asset Management Inc now owns 5,827 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 126 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Webster Financial Corporation by 2.5% during the second quarter. Teacher Retirement System of Texas now owns 7,391 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 181 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Webster Financial Corporation by 3.4% during the second quarter. Bank of Montreal Can now owns 6,047 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 200 shares in the last quarter. 94.09% of the stock is currently owned by institutional investors.

In other Webster Financial Corporation news, EVP Nitin J. Mhatre sold 31,940 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $51.34, for a total value of $1,639,799.60. Following the completion of the sale, the executive vice president now directly owns 23,120 shares of the company’s stock, valued at $1,186,980.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel Bley sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $51.20, for a total transaction of $409,600.00. Following the completion of the sale, the executive vice president now directly owns 25,657 shares of the company’s stock, valued at $1,313,638.40. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

WARNING: “Webster Financial Corporation (WBS) Shares Bought by Legal & General Group Plc” was reported by Daily Political and is the sole property of of Daily Political. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/09/10/webster-financial-corporation-wbs-shares-bought-by-legal-general-group-plc.html.

A number of equities analysts recently commented on WBS shares. Zacks Investment Research upgraded shares of Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Saturday, July 8th. ValuEngine upgraded shares of Webster Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group LLC restated a “hold” rating and issued a $53.00 price objective on shares of Webster Financial Corporation in a research note on Friday, July 14th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Webster Financial Corporation in a report on Tuesday, June 27th. Finally, BidaskClub cut shares of Webster Financial Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.00.

Webster Financial Corporation (NYSE:WBS) opened at 45.29 on Friday. The stock has a market cap of $4.17 billion, a P/E ratio of 18.87 and a beta of 1.27. The stock has a 50 day moving average of $48.71 and a 200-day moving average of $50.95. Webster Financial Corporation has a 52 week low of $36.96 and a 52 week high of $57.50.

Webster Financial Corporation (NYSE:WBS) last announced its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.04. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. The firm had revenue of $262.50 million for the quarter, compared to the consensus estimate of $260.91 million. During the same period in the previous year, the firm posted $0.53 earnings per share. Analysts forecast that Webster Financial Corporation will post $2.55 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, August 3rd. Webster Financial Corporation’s payout ratio is presently 43.33%.

Webster Financial Corporation Company Profile

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

Institutional Ownership by Quarter for Webster Financial Corporation (NYSE:WBS)

Receive News & Ratings for Webster Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.