Aviva PLC raised its position in shares of Comerica Incorporated (NYSE:CMA) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,379 shares of the financial services provider’s stock after buying an additional 2,220 shares during the period. Aviva PLC owned approximately 0.06% of Comerica worth $8,011,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Comerica by 6.2% in the first quarter. Vanguard Group Inc. now owns 17,019,213 shares of the financial services provider’s stock worth $1,167,178,000 after buying an additional 997,004 shares during the period. BlackRock Inc. boosted its position in shares of Comerica by 3,094.6% in the first quarter. BlackRock Inc. now owns 11,268,474 shares of the financial services provider’s stock worth $772,796,000 after buying an additional 10,915,741 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Comerica by 1.5% in the first quarter. Wellington Management Group LLP now owns 4,928,411 shares of the financial services provider’s stock worth $337,991,000 after buying an additional 71,159 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Comerica by 28.1% in the first quarter. JPMorgan Chase & Co. now owns 4,120,834 shares of the financial services provider’s stock worth $282,610,000 after buying an additional 905,127 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of Comerica by 1.8% in the first quarter. King Luther Capital Management Corp now owns 2,958,144 shares of the financial services provider’s stock worth $202,870,000 after buying an additional 51,008 shares in the last quarter. Hedge funds and other institutional investors own 82.52% of the company’s stock.

Comerica Incorporated (NYSE CMA) opened at 69.24 on Tuesday. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 17.29 and a beta of 1.47. The firm has a 50-day moving average price of $72.39 and a 200-day moving average price of $70.97. Comerica Incorporated has a 52 week low of $45.14 and a 52 week high of $75.72.

Comerica (NYSE:CMA) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.07. Comerica had a return on equity of 9.60% and a net margin of 23.22%. The firm had revenue of $776 million for the quarter, compared to analysts’ expectations of $777.08 million. During the same period last year, the firm earned $0.58 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts anticipate that Comerica Incorporated will post $4.59 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is a boost from Comerica’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.73%. Comerica’s dividend payout ratio (DPR) is 26.00%.

Comerica declared that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $605.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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CMA has been the topic of a number of recent research reports. FBR & Co set a $79.00 price target on Comerica and gave the company a “buy” rating in a research report on Tuesday, July 18th. Stephens reaffirmed a “buy” rating and set a $80.00 price target on shares of Comerica in a research report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “buy” rating and set a $81.00 price target on shares of Comerica in a research report on Friday, July 14th. BidaskClub cut Comerica from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $78.00 price target on shares of Comerica in a research report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $72.71.

In related news, insider Paul R. Obermeyer sold 20,321 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $70.24, for a total value of $1,427,347.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Judith S. Love sold 21,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $69.74, for a total transaction of $1,464,540.00. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

About Comerica

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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