Meeder Asset Management Inc. Sells 21,997 Shares of Comerica Incorporated (CMA)

Meeder Asset Management Inc. reduced its holdings in shares of Comerica Incorporated (NYSE:CMA) by 63.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,555 shares of the financial services provider’s stock after selling 21,997 shares during the period. Meeder Asset Management Inc.’s holdings in Comerica were worth $1,090,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank lifted its position in Comerica by 11.4% during the 3rd quarter. Toronto Dominion Bank now owns 66,770 shares of the financial services provider’s stock valued at $5,092,000 after acquiring an additional 6,843 shares during the period. APG Asset Management N.V. lifted its position in Comerica by 23.4% during the 3rd quarter. APG Asset Management N.V. now owns 93,210 shares of the financial services provider’s stock valued at $7,108,000 after acquiring an additional 17,700 shares during the period. Dimensional Fund Advisors LP lifted its position in Comerica by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 996,123 shares of the financial services provider’s stock valued at $75,956,000 after acquiring an additional 31,136 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in Comerica during the 3rd quarter valued at about $35,346,000. Finally, Crestline Management LP purchased a new position in Comerica during the 3rd quarter valued at about $3,584,000. 82.30% of the stock is owned by institutional investors.

In other news, EVP Christine M. Moore sold 3,200 shares of Comerica stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.07, for a total value of $240,224.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Peter William Guilfoile sold 1,052 shares of Comerica stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $97.00, for a total transaction of $102,044.00. The disclosure for this sale can be found here. Insiders sold 218,811 shares of company stock valued at $20,779,651 over the last quarter. Company insiders own 1.10% of the company’s stock.

CMA has been the subject of a number of recent research reports. Piper Jaffray Companies reissued a “buy” rating on shares of Comerica in a research report on Tuesday, October 17th. FBR & Co reissued a “buy” rating and set a $84.00 price target (up from $79.00) on shares of Comerica in a research report on Tuesday, October 17th. DA Davidson reissued a “hold” rating and set a $81.00 price target on shares of Comerica in a research report on Wednesday, October 18th. Robert W. Baird reissued a “hold” rating and set a $74.00 price target on shares of Comerica in a research report on Friday, October 20th. Finally, Nomura lifted their price target on shares of Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $92.37.

Shares of Comerica Incorporated (NYSE:CMA) opened at $93.58 on Thursday. The firm has a market cap of $16,049.21, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. Comerica Incorporated has a 12 month low of $64.04 and a 12 month high of $98.18.

Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The business had revenue of $830.00 million during the quarter, compared to analyst estimates of $819.30 million. Comerica had a net margin of 22.47% and a return on equity of 10.94%. During the same period last year, the business earned $0.92 EPS. equities research analysts predict that Comerica Incorporated will post 6.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.28%. Comerica’s dividend payout ratio is presently 29.06%.

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Comerica Company Profile

Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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