Goldman Sachs Group Inc. lifted its stake in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 10.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,973,380 shares of the bank’s stock after purchasing an additional 381,632 shares during the period. Goldman Sachs Group Inc. owned 1.18% of People’s United Financial worth $70,170,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in PBCT. Comerica Bank raised its stake in shares of People’s United Financial by 0.7% during the 1st quarter. Comerica Bank now owns 76,133 shares of the bank’s stock worth $1,358,000 after purchasing an additional 534 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of People’s United Financial by 7.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,302,527 shares of the bank’s stock worth $23,706,000 after purchasing an additional 89,615 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of People’s United Financial by 15.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 41,626 shares of the bank’s stock worth $758,000 after purchasing an additional 5,596 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of People’s United Financial by 11.1% during the 1st quarter. Mason Street Advisors LLC now owns 47,305 shares of the bank’s stock worth $861,000 after purchasing an additional 4,709 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of People’s United Financial by 217.5% during the 1st quarter. JPMorgan Chase & Co. now owns 394,453 shares of the bank’s stock worth $7,178,000 after purchasing an additional 270,217 shares in the last quarter. Institutional investors own 77.28% of the company’s stock.

People’s United Financial, Inc. (PBCT) opened at 18.20 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 capitalization of $6.14 billion, a price-to-earnings ratio of 20.36 and a beta of 0.84. The company’s 50 day moving average price is $17.08 and its 200-day moving average price is $17.39.

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

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

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

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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