Public Sector Pension investment Board cut its stake in People’s United Financial, Inc. (NASDAQ:PBCT) by 48.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,547 shares of the bank’s stock after selling 34,600 shares during the quarter. Public Sector Pension investment Board’s holdings in People’s United Financial were worth $663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Benedict Financial Advisors Inc. increased its stake in shares of People’s United Financial by 0.3% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 15,537 shares of the bank’s stock worth $272,000 after acquiring an additional 47 shares in the last quarter. Federated Investors Inc. PA increased its stake in shares of People’s United Financial by 0.8% in the 2nd quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock worth $171,000 after acquiring an additional 80 shares in the last quarter. ING Groep NV increased its stake in shares of People’s United Financial by 0.5% in the 2nd quarter. ING Groep NV now owns 17,637 shares of the bank’s stock worth $311,000 after acquiring an additional 94 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in shares of People’s United Financial by 0.8% in the 2nd quarter. Contravisory Investment Management Inc. now owns 13,274 shares of the bank’s stock worth $234,000 after acquiring an additional 104 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of People’s United Financial by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,583 shares of the bank’s stock worth $452,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

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In other People’s United Financial news, insider Jeffrey Hoyt sold 6,759 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $17.98, for a total value of $121,526.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janet M. Hansen sold 12,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $17.14, for a total transaction of $205,680.00. Following the completion of the transaction, the director now owns 145,707 shares of the company’s stock, valued at $2,497,417.98. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Shares of People’s United Financial, Inc. (NASDAQ:PBCT) opened at 18.24 on Friday. People’s United Financial, Inc. has a 1-year low of $15.28 and a 1-year high of $20.13. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 20.40 and a beta of 0.84. The firm’s 50-day moving average is $17.13 and its 200-day moving average is $17.39.

People’s United Financial (NASDAQ:PBCT) last announced its 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 firm had revenue of $366.50 million during 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 for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Analysts forecast that People’s United Financial, Inc. will post $0.93 earnings per share for the current fiscal year.

Several research analysts recently issued reports on the stock. BidaskClub upgraded shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Zacks Investment Research lowered shares of People’s United Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Piper Jaffray Companies set a $16.00 price target on shares of People’s United Financial and gave the stock a “sell” rating in a research note on Thursday, August 17th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.00 price target on shares of People’s United Financial in a research note on Friday, June 9th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $19.00 price target on shares of People’s United Financial in a research note on Friday, August 18th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. People’s United Financial currently has a consensus rating of “Hold” and a consensus price target of $18.38.

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.

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

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