NGAM Advisors L.P. decreased its position in People’s United Financial, Inc. (NASDAQ:PBCT) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,259 shares of the bank’s stock after selling 867 shares during the period. NGAM Advisors L.P.’s holdings in People’s United Financial were worth $746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in People’s United Financial by 218.7% in the fourth quarter. Renaissance Technologies LLC now owns 80,628 shares of the bank’s stock worth $1,561,000 after buying an additional 55,328 shares during the last quarter. Teachers Advisors LLC boosted its position in People’s United Financial by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 373,474 shares of the bank’s stock worth $7,230,000 after buying an additional 21,354 shares during the last quarter. Macquarie Group Ltd. boosted its position in People’s United Financial by 25.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,800 shares of the bank’s stock worth $189,000 after buying an additional 2,000 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in People’s United Financial by 5.8% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 76,274 shares of the bank’s stock worth $1,388,000 after buying an additional 4,197 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in People’s United Financial by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 98,281 shares of the bank’s stock worth $1,788,000 after buying an additional 1,000 shares during the last quarter. 75.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of People’s United Financial, Inc. (PBCT) opened at 16.63 on Friday. The company has a 50 day moving average of $17.53 and a 200-day moving average of $17.85. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 18.60 and a beta of 0.82. People’s United Financial, Inc. has a 52 week low of $15.27 and a 52 week high of $20.13.

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 net margin of 18.88% and a return on equity of 6.14%. The business had revenue of $366.50 million during the quarter, compared to the consensus estimate of $357.16 million. During the same period in the prior year, the company posted $0.23 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that People’s United Financial, Inc. will post $0.93 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a $0.1725 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.69 annualized dividend and a dividend yield of 4.15%. People’s United Financial’s dividend payout ratio is 77.53%.

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PBCT has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued a “hold” rating on shares of People’s United Financial in a research report on Tuesday, May 9th. Morgan Stanley raised shares of People’s United Financial from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $16.50 to $17.50 in a research report on Monday, June 5th. They noted that the move was a valuation call. BidaskClub raised shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Piper Jaffray Companies set a $16.00 target price on shares of People’s United Financial and gave the stock a “sell” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. People’s United Financial presently has a consensus rating of “Hold” and a consensus target price of $18.42.

In related news, Director Jerry Franklin sold 4,520 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $16.72, for a total value of $75,574.40. Following the completion of the transaction, the director now directly owns 97,249 shares in the company, valued at $1,626,003.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert E. Trautmann sold 118,836 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $17.08, for a total value of $2,029,718.88. Following the completion of the transaction, the vice president now owns 70,323 shares of the company’s stock, valued at $1,201,116.84. The disclosure for this sale can be found here. Insiders sold 130,115 shares of company stock valued at $2,226,820 over the last three months. 2.70% of the stock is owned by company insiders.

People’s United Financial Company Profile

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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