Andra AP fonden trimmed its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 12.9% during the second quarter, HoldingsChannel.com reports. The firm owned 227,700 shares of the bank’s stock after selling 33,600 shares during the quarter. Andra AP fonden’s holdings in People’s United Financial were worth $4,119,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PBCT. BlackRock Inc. lifted its stake in shares of People’s United Financial by 18.5% in the 1st quarter. BlackRock Inc. now owns 32,023,332 shares of the bank’s stock valued at $597,556,000 after purchasing an additional 4,995,687 shares during the period. Unigestion Holding SA acquired a new position in shares of People’s United Financial in the 2nd quarter valued at about $45,747,000. First Trust Advisors LP lifted its stake in shares of People’s United Financial by 63.7% in the 2nd quarter. First Trust Advisors LP now owns 4,844,250 shares of the bank’s stock valued at $87,632,000 after purchasing an additional 1,885,432 shares during the period. Millennium Management LLC lifted its stake in shares of People’s United Financial by 83.4% in the 1st quarter. Millennium Management LLC now owns 1,855,971 shares of the bank’s stock valued at $34,632,000 after purchasing an additional 843,918 shares during the period. Finally, WBI Investments Inc. acquired a new position in shares of People’s United Financial in the 2nd quarter valued at about $12,380,000. 78.10% of the stock is currently owned by institutional investors.

In related news, VP Robert E. Trautmann sold 75,404 shares of the business’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $18.27, for a total value of $1,377,631.08. Following the completion of the sale, the vice president now directly owns 69,193 shares of the company’s stock, valued at approximately $1,264,156.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George P. Carter sold 10,874 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $18.70, for a total value of $203,343.80. Following the completion of the sale, the director now directly owns 13,758 shares of the company’s stock, valued at $257,274.60. The disclosure for this sale can be found here. Insiders sold a total of 155,454 shares of company stock valued at $2,835,231 over the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

A number of research analysts have recently issued reports on the company. Zacks Investment Research raised People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday. BidaskClub downgraded People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 19th. ValuEngine downgraded People’s United Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Morgan Stanley boosted their price objective on People’s United Financial from $20.50 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 24th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.50 price objective on shares of People’s United Financial in a research note on Monday, July 23rd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $20.21.

Shares of People’s United Financial stock opened at $17.05 on Friday. People’s United Financial, Inc. has a one year low of $17.05 and a one year high of $20.26. The stock has a market capitalization of $6.13 billion, a P/E ratio of 16.39, a PEG ratio of 6.80 and a beta of 0.91. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.98 and a quick ratio of 0.98.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, July 19th. The bank reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. People’s United Financial had a return on equity of 7.57% and a net margin of 23.24%. The business had revenue of $396.10 million during the quarter, compared to analyst estimates of $395.57 million. During the same period in the previous year, the company posted $0.19 EPS. analysts expect that People’s United Financial, Inc. will post 1.29 EPS for the current fiscal year.

People’s United Financial Profile

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.

See Also: Price to Earnings Ratio (PE) Basics

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

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