Wellington Management Group LLP Has $25.80 Million Stock Holdings in Webster Financial Co. (NYSE:WBS)

Wellington Management Group LLP cut its holdings in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 467,244 shares of the financial services provider's stock after selling 303,440 shares during the period. Wellington Management Group LLP owned about 0.27% of Webster Financial worth $25,801,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in shares of Webster Financial during the fourth quarter valued at approximately $3,549,000. Charles Schwab Investment Management Inc. raised its position in Webster Financial by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider's stock worth $83,253,000 after purchasing an additional 38,713 shares during the last quarter. Barclays PLC lifted its holdings in Webster Financial by 36.4% during the 3rd quarter. Barclays PLC now owns 297,834 shares of the financial services provider's stock worth $13,883,000 after buying an additional 79,556 shares in the last quarter. Lazard Asset Management LLC boosted its position in Webster Financial by 34.2% in the 4th quarter. Lazard Asset Management LLC now owns 18,647 shares of the financial services provider's stock valued at $1,028,000 after buying an additional 4,755 shares during the last quarter. Finally, LPL Financial LLC increased its stake in shares of Webster Financial by 28.7% in the 4th quarter. LPL Financial LLC now owns 70,155 shares of the financial services provider's stock valued at $3,874,000 after buying an additional 15,627 shares during the period. 85.58% of the stock is currently owned by institutional investors.

Insider Activity at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 1,800 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $47.84, for a total transaction of $86,112.00. Following the completion of the sale, the insider now owns 21,517 shares of the company's stock, valued at $1,029,373.28. This trade represents a 7.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren States sold 2,200 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $50.80, for a total transaction of $111,760.00. Following the completion of the transaction, the director now owns 14,620 shares in the company, valued at approximately $742,696. This represents a 13.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,000 shares of company stock worth $667,960. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

WBS has been the topic of several research reports. Royal Bank of Canada set a $60.00 price target on Webster Financial and gave the company an "outperform" rating in a research note on Friday, April 25th. Morgan Stanley cut their target price on shares of Webster Financial from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Truist Financial began coverage on shares of Webster Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $61.00 price target for the company. Wells Fargo & Company cut their price objective on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Raymond James lowered their target price on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $63.75.

Webster Financial Stock Down 0.3%

WBS traded down $0.16 during trading on Wednesday, reaching $51.90. The company had a trading volume of 1,337,364 shares, compared to its average volume of 1,279,481. The business's fifty day moving average price is $48.46 and its 200 day moving average price is $53.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. Webster Financial Co. has a 12 month low of $39.34 and a 12 month high of $63.99. The company has a market cap of $8.73 billion, a P/E ratio of 11.88, a PEG ratio of 1.02 and a beta of 0.98.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.08). Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The firm had revenue of $704.80 million for the quarter, compared to the consensus estimate of $708.46 million. During the same quarter in the previous year, the business posted $1.35 earnings per share. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts anticipate that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial announced that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were issued a $0.40 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.08%. Webster Financial's payout ratio is 36.04%.

Webster Financial Company Profile

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.