Teachers Retirement System of The State of Kentucky reduced its stake in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 32.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,400 shares of the bank’s stock after selling 12,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in People’s United Financial were worth $452,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of People’s United Financial by 0.6% during the 2nd quarter. BlackRock Inc. now owns 32,213,648 shares of the bank’s stock worth $582,747,000 after buying an additional 190,316 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of People’s United Financial by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,386,117 shares of the bank’s stock worth $169,799,000 after buying an additional 185,833 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of People’s United Financial by 1.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 2,962,033 shares of the bank’s stock worth $53,674,000 after buying an additional 28,462 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of People’s United Financial by 6.4% during the 3rd quarter. Alps Advisors Inc. now owns 2,677,953 shares of the bank’s stock worth $45,847,000 after buying an additional 160,452 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of People’s United Financial by 13.6% during the 2nd quarter. Millennium Management LLC now owns 2,107,785 shares of the bank’s stock worth $38,130,000 after buying an additional 251,814 shares during the last quarter. Institutional investors own 73.67% of the company’s stock.

In related news, VP Lee C. Powlus sold 48,200 shares of the business’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $17.97, for a total value of $866,154.00. Following the completion of the transaction, the vice president now owns 146,050 shares of the company’s stock, valued at approximately $2,624,518.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

Several research analysts have recently issued reports on PBCT shares. Zacks Investment Research raised People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, September 24th. Wells Fargo & Co set a $18.00 price target on People’s United Financial and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. BidaskClub raised People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, October 5th. Finally, ValuEngine downgraded People’s United Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. People’s United Financial currently has a consensus rating of “Hold” and a consensus target price of $20.21.

NASDAQ:PBCT opened at $16.14 on Friday. The firm has a market cap of $6.14 billion, a PE ratio of 12.92, a PEG ratio of 6.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95. People’s United Financial, Inc. has a 52-week low of $15.04 and a 52-week high of $20.26.

People’s United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. People’s United Financial had a net margin of 23.98% and a return on equity of 7.94%. The firm had revenue of $398.70 million during the quarter, compared to the consensus estimate of $404.65 million. During the same quarter in the previous year, the company posted $0.26 EPS. On average, analysts expect that People’s United Financial, Inc. will post 1.29 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Wednesday, October 31st. People’s United Financial’s payout ratio is 67.31%.

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About People’s United Financial

People's United Financial, Inc operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company operates in 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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