Balyasny Asset Management LLC lowered its position in People’s United Financial, Inc. (NASDAQ:PBCT) by 29.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 440,026 shares of the bank’s stock after selling 184,033 shares during the period. Balyasny Asset Management LLC owned approximately 0.13% of People’s United Financial worth $7,771,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PBCT. BlackRock Inc. grew its holdings in shares of People’s United Financial by 2,026.9% in the 1st quarter. BlackRock Inc. now owns 26,740,727 shares of the bank’s stock worth $486,681,000 after acquiring an additional 25,483,451 shares during the period. Vanguard Group Inc. grew its holdings in People’s United Financial by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 32,902,001 shares of the bank’s stock valued at $598,816,000 after buying an additional 3,027,697 shares during the last quarter. Janus Capital Management LLC grew its holdings in People’s United Financial by 86.2% during the 1st quarter. Janus Capital Management LLC now owns 3,574,254 shares of the bank’s stock valued at $65,051,000 after buying an additional 1,654,567 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in People’s United Financial by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,215,243 shares of the bank’s stock valued at $162,743,000 after buying an additional 923,949 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in People’s United Financial by 22.6% during the 1st quarter. Geode Capital Management LLC now owns 3,698,627 shares of the bank’s stock valued at $67,221,000 after buying an additional 681,996 shares during the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

A number of brokerages have commented on PBCT. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 target price on shares of People’s United Financial in a report on Friday, August 18th. Piper Jaffray Companies set a $16.00 target price on People’s United Financial and gave the company a “sell” rating in a report on Thursday, August 17th. Zacks Investment Research cut People’s United Financial from a “buy” rating to a “hold” rating in a report on Monday, September 18th. BidaskClub cut People’s United Financial from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $19.00 target price on shares of People’s United Financial in a report on Friday, June 9th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $18.38.

In other People’s United Financial news, Director Janet M. Hansen sold 12,000 shares of People’s United Financial stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $17.14, for a total transaction of $205,680.00. Following the transaction, the director now directly owns 145,707 shares in the company, valued at approximately $2,497,417.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Hoyt sold 6,759 shares of People’s United Financial stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total transaction of $121,526.82. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

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Shares of People’s United Financial, Inc. (NASDAQ:PBCT) opened at 18.24 on Friday. People’s United Financial, Inc. has a 12-month low of $15.28 and a 12-month high of $20.13. The firm has a market cap of $6.16 billion, a PE ratio of 20.40 and a beta of 0.84. The stock’s 50 day moving average price is $17.13 and its 200 day moving average price is $17.39.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The firm had revenue of $366.50 million for the quarter, compared to analysts’ expectations of $357.16 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts predict that People’s United Financial, Inc. will post $0.93 EPS for the current fiscal year.

About People’s United Financial

People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through two segments: Commercial Banking and Retail Banking.

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Institutional Ownership by Quarter for People`s United Financial (NASDAQ:PBCT)

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