Man Group plc Acquires 6,132 Shares of Comerica Incorporated (NYSE:CMA)

Man Group plc raised its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 17.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 41,008 shares of the financial services provider's stock after acquiring an additional 6,132 shares during the period. Man Group plc's holdings in Comerica were worth $2,536,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock worth $242,000 after purchasing an additional 200 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Comerica by 2.0% in the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock worth $672,000 after buying an additional 211 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after buying an additional 221 shares during the last quarter. US Bancorp DE grew its holdings in shares of Comerica by 2.0% in the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider's stock worth $731,000 after acquiring an additional 227 shares during the period. Finally, MCF Advisors LLC lifted its holdings in Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 228 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CMA. UBS Group raised shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price target for the company in a research report on Thursday, April 10th. Jefferies Financial Group assumed coverage on shares of Comerica in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $47.00 price target on the stock. Morgan Stanley downgraded shares of Comerica from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $63.00 to $55.00 in a research report on Monday, April 7th. Raymond James decreased their target price on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group reduced their price target on Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Comerica has a consensus rating of "Hold" and an average target price of $62.37.

Comerica Price Performance

Comerica stock traded down $0.21 during mid-day trading on Wednesday, reaching $57.18. 167,776 shares of the company's stock traded hands, compared to its average volume of 2,181,801. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock has a 50 day moving average of $55.40 and a two-hundred day moving average of $61.61. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 11.40 and a beta of 0.92.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The firm had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. During the same quarter last year, the firm earned $1.29 EPS. Equities analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio (DPR) is 53.69%.

Comerica 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.