Mirae Asset Global Investments Co. Ltd. lifted its position in People’s United Financial, Inc. (NASDAQ:PBCT) by 134.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,913 shares of the bank’s stock after buying an additional 23,441 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in People’s United Financial were worth $590,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of PBCT. BlackRock Inc. grew its holdings in shares of People’s United Financial by 9.6% in the 4th quarter. BlackRock Inc. now owns 35,412,815 shares of the bank’s stock worth $511,006,000 after acquiring an additional 3,095,130 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of People’s United Financial by 224.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,222,670 shares of the bank’s stock worth $46,503,000 after acquiring an additional 2,228,618 shares during the last quarter. AMF Pensionsforsakring AB purchased a new position in shares of People’s United Financial during the fourth quarter valued at $30,116,000. AXA grew its holdings in shares of People’s United Financial by 1,004.4% during the third quarter. AXA now owns 650,278 shares of the bank’s stock valued at $11,133,000 after buying an additional 591,400 shares in the last quarter. Finally, Vanguard Group Inc grew its holdings in shares of People’s United Financial by 1.6% during the third quarter. Vanguard Group Inc now owns 37,208,597 shares of the bank’s stock valued at $637,012,000 after buying an additional 582,938 shares in the last quarter. Institutional investors and hedge funds own 76.96% of the company’s stock.
Shares of NASDAQ PBCT opened at $17.47 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. People’s United Financial, Inc. has a one year low of $13.66 and a one year high of $20.08. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 6.20 and a beta of 1.18.
The company also recently announced a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Friday, February 1st were paid a $0.175 dividend. The ex-dividend date was Thursday, January 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.01%. People’s United Financial’s dividend payout ratio (DPR) is currently 53.44%.
In other People’s United Financial news, VP David K. Norton sold 32,163 shares of the business’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $14.89, for a total value of $478,907.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jerry Franklin sold 4,800 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $17.99, for a total value of $86,352.00. Following the completion of the transaction, the director now owns 93,317 shares in the company, valued at approximately $1,678,772.83. The disclosure for this sale can be found here. Insiders sold 197,382 shares of company stock worth $3,411,597 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.
PBCT has been the topic of a number of research analyst reports. BidaskClub upgraded People’s United Financial from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Wells Fargo & Co reiterated a “hold” rating on shares of People’s United Financial in a report on Thursday, January 3rd. FIG Partners initiated coverage on People’s United Financial in a report on Thursday, December 20th. They set an “outperform” rating on the stock. ValuEngine upgraded People’s United Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Finally, Barclays reiterated a “hold” rating and set a $19.00 price target on shares of People’s United Financial in a report on Sunday, January 20th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. People’s United Financial currently has an average rating of “Hold” and an average price target of $19.92.
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People’s United Financial Company 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.
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