Shell Asset Management Co. reduced its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 85.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,127 shares of the bank’s stock after selling 122,376 shares during the period. Shell Asset Management Co.’s holdings in People’s United Financial were worth $355,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PBCT. 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 in 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 in 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 in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in People’s United Financial by 13.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 299,799 shares of the bank’s stock worth $5,457,000 after buying an additional 35,740 shares in the last quarter. Finally, 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 in the last quarter. Institutional investors and hedge funds own 75.03% of the company’s stock.

People’s United Financial, Inc. (PBCT) opened at 17.10 on Wednesday. People’s United Financial, Inc. has a 1-year low of $15.27 and a 1-year high of $20.13. The firm has a market capitalization of $5.77 billion, a PE ratio of 19.13 and a beta of 0.82. The firm’s 50-day moving average price is $17.57 and its 200-day moving average price is $17.87.

People’s United Financial (NASDAQ:PBCT) last released its earnings results on Thursday, July 20th. The bank reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The firm had revenue of $366.50 million during the quarter, compared to analysts’ expectations of $357.16 million. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. On average, equities research analysts predict that People’s United Financial, Inc. will post $0.93 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were paid a $0.1725 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.69 annualized dividend and a yield of 4.04%. People’s United Financial’s payout ratio is currently 77.53%.

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A number of research firms recently commented on PBCT. Zacks Investment Research upgraded People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of People’s United Financial in a report on Monday, July 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $17.75 price objective (up from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Finally, BidaskClub upgraded People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Three analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $18.25.

In other People’s United Financial news, Director Jerry Franklin sold 4,520 shares of People’s United Financial stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $16.72, for a total value of $75,574.40. Following the completion of the sale, the director now directly owns 97,249 shares of the company’s stock, valued at approximately $1,626,003.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey Hoyt sold 6,759 shares of People’s United Financial stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total transaction of $121,526.82. The disclosure for this sale can be found here. Insiders sold a total of 130,115 shares of company stock valued at $2,226,820 over the last ninety days. 2.70% of the stock is owned by corporate 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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