Franklin Resources Inc. reduced its stake in Webster Financial Co. (NYSE:WBS - Free Report) by 14.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 171,986 shares of the financial services provider's stock after selling 29,940 shares during the quarter. Franklin Resources Inc. owned 0.10% of Webster Financial worth $8,273,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Webster Financial by 6.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,682,750 shares of the financial services provider's stock worth $73,351,000 after acquiring an additional 98,571 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Webster Financial by 2.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,198 shares of the financial services provider's stock worth $1,578,000 after purchasing an additional 736 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Webster Financial by 27.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 6,767 shares of the financial services provider's stock worth $295,000 after buying an additional 1,467 shares in the last quarter. F M Investments LLC acquired a new stake in shares of Webster Financial in the 2nd quarter valued at approximately $2,985,000. Finally, Innealta Capital LLC purchased a new stake in shares of Webster Financial in the second quarter valued at approximately $215,000. Institutional investors and hedge funds own 85.58% of the company's stock.
In related news, insider Daniel Bley sold 500 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $61.91, for a total value of $30,955.00. Following the completion of the sale, the insider now directly owns 17,279 shares in the company, valued at approximately $1,069,742.89. This represents a 2.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Javier L. Evans sold 10,137 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the sale, the insider now directly owns 22,657 shares of the company's stock, valued at $1,300,738.37. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,250 shares of company stock worth $2,105,322 in the last ninety days. Insiders own 0.88% of the company's stock.
Shares of Webster Financial stock opened at $54.99 on Monday. Webster Financial Co. has a fifty-two week low of $39.33 and a fifty-two week high of $63.99. The business's fifty day moving average is $56.74 and its two-hundred day moving average is $49.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The firm has a market cap of $9.43 billion, a PE ratio of 12.47, a P/E/G ratio of 0.87 and a beta of 1.29.