Principal Financial Group Inc. Has $19.56 Million Stock Holdings in Comerica Incorporated $CMA

Principal Financial Group Inc. decreased its position in Comerica Incorporated (NYSE:CMA) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 285,439 shares of the financial services provider’s stock after selling 12,492 shares during the quarter. Principal Financial Group Inc.’s holdings in Comerica were worth $19,558,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Comerica by 466.2% during the third quarter. Bank of New York Mellon Corp now owns 7,291,514 shares of the financial services provider’s stock worth $499,615,000 after buying an additional 6,003,703 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Comerica by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,741,310 shares of the financial services provider’s stock worth $282,819,000 after acquiring an additional 77,869 shares during the last quarter. Primecap Management Co. CA increased its holdings in Comerica by 55.3% during the 2nd quarter. Primecap Management Co. CA now owns 2,593,800 shares of the financial services provider’s stock valued at $154,720,000 after purchasing an additional 923,690 shares in the last quarter. Geode Capital Management LLC raised its position in Comerica by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,579,763 shares of the financial services provider’s stock valued at $153,905,000 after purchasing an additional 73,971 shares during the last quarter. Finally, Azora Capital LP grew its holdings in shares of Comerica by 8.7% during the second quarter. Azora Capital LP now owns 2,063,920 shares of the financial services provider’s stock worth $123,113,000 after purchasing an additional 164,722 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Insider Activity at Comerica

In related news, EVP James Harry Weber sold 8,798 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $98.04, for a total transaction of $862,555.92. Following the completion of the transaction, the executive vice president owned 20,543 shares in the company, valued at approximately $2,014,035.72. The trade was a 29.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allysun C. Fleming sold 8,864 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $94.47, for a total transaction of $837,382.08. Following the completion of the sale, the executive vice president directly owned 4,785 shares of the company’s stock, valued at $452,038.95. The trade was a 64.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,662 shares of company stock worth $2,680,538. 1.10% of the stock is currently owned by company insiders.

Comerica Trading Down 2.0%

NYSE:CMA opened at $90.98 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $99.41. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 17.20 and a beta of 1.04. The business’s 50-day moving average price is $89.52 and its two-hundred day moving average price is $78.67.

Comerica (NYSE:CMA) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.18. The company had revenue of $850.00 million during the quarter, compared to analyst estimates of $851.32 million. Comerica had a return on equity of 10.74% and a net margin of 15.07%.During the same period in the previous year, the company earned $1.20 EPS. On average, equities analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CMA shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Comerica in a report on Wednesday, January 21st. Citigroup raised their price objective on shares of Comerica from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, December 30th. TD Cowen reiterated a “hold” rating on shares of Comerica in a research report on Wednesday, January 7th. Wells Fargo & Company increased their price target on shares of Comerica from $65.00 to $97.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Finally, UBS Group upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Comerica has an average rating of “Hold” and an average target price of $79.56.

Comerica Company Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.