Alps Advisors Inc. Trims Stake in Comerica Incorporated (CMA)

Share on StockTwits

Alps Advisors Inc. lessened its holdings in shares of Comerica Incorporated (NYSE:CMA) by 51.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,101 shares of the financial services provider’s stock after selling 6,411 shares during the period. Alps Advisors Inc.’s holdings in Comerica were worth $550,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CMA. MERIAN GLOBAL INVESTORS UK Ltd lifted its position in shares of Comerica by 160.4% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,302,681 shares of the financial services provider’s stock worth $207,701,000 after purchasing an additional 1,418,316 shares in the last quarter. Millennium Management LLC raised its holdings in Comerica by 31.7% in the second quarter. Millennium Management LLC now owns 5,002,782 shares of the financial services provider’s stock valued at $454,853,000 after acquiring an additional 1,204,882 shares in the last quarter. Integrated Investment Consultants LLC raised its holdings in Comerica by 26,511.7% in the second quarter. Integrated Investment Consultants LLC now owns 986,494 shares of the financial services provider’s stock valued at $1,319,000 after acquiring an additional 982,787 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Comerica by 61.5% in the second quarter. Janus Henderson Group PLC now owns 1,291,777 shares of the financial services provider’s stock valued at $117,449,000 after acquiring an additional 491,843 shares in the last quarter. Finally, Natixis raised its holdings in Comerica by 424.3% in the second quarter. Natixis now owns 322,992 shares of the financial services provider’s stock valued at $29,366,000 after acquiring an additional 261,389 shares in the last quarter. 82.32% of the stock is currently owned by institutional investors and hedge funds.

CMA stock opened at $83.55 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.03. Comerica Incorporated has a twelve month low of $74.16 and a twelve month high of $102.66. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 0.59 and a beta of 1.39.

Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.05. Comerica had a net margin of 29.54% and a return on equity of 14.41%. The company had revenue of $833.00 million for the quarter, compared to analysts’ expectations of $852.72 million. During the same quarter last year, the company earned $1.26 earnings per share. As a group, analysts predict that Comerica Incorporated will post 7.18 earnings per share for the current year.

Several brokerages recently weighed in on CMA. Macquarie cut shares of Comerica from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. Morgan Stanley raised their target price on shares of Comerica from $108.00 to $111.00 and gave the company an “equal weight” rating in a report on Thursday, July 26th. Sandler O’Neill reaffirmed a “hold” rating and issued a $100.00 target price on shares of Comerica in a report on Thursday, July 26th. Bank of America set a $109.00 target price on shares of Comerica and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, BMO Capital Markets raised their target price on shares of Comerica from $106.00 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $100.72.

ILLEGAL ACTIVITY NOTICE: This piece of content was published by Macon Daily and is the sole property of of Macon Daily. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://macondaily.com/2018/11/06/alps-advisors-inc-trims-stake-in-comerica-incorporated-cma.html.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.

Recommended Story: Risk Tolerance and Your Investment Decisions

Want to see what other hedge funds are holding CMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comerica Incorporated (NYSE:CMA).

Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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

Leave a Reply