People’s United Financial, Inc. (PBCT) Stake Decreased by Sei Investments Co.

Sei Investments Co. cut its stake in People’s United Financial, Inc. (NASDAQ:PBCT) by 12.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,074 shares of the bank’s stock after selling 8,684 shares during the period. Sei Investments Co.’s holdings in People’s United Financial were worth $1,093,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of People’s United Financial during the first quarter valued at approximately $137,000. Mn Services Vermogensbeheer B.V. increased its position in shares of People’s United Financial by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,076 shares of the bank’s stock valued at $137,000 after buying an additional 394 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of People’s United Financial by 19.2% in the first quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the bank’s stock valued at $158,000 after buying an additional 1,400 shares during the last quarter. Federated Investors Inc. PA acquired a new position in shares of People’s United Financial during the fourth quarter valued at approximately $184,000. Finally, Macquarie Group Ltd. increased its position in shares of People’s United Financial by 25.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,800 shares of the bank’s stock valued at $189,000 after buying an additional 2,000 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of People’s United Financial, Inc. (PBCT) opened at 17.62 on Friday. People’s United Financial, Inc. has a 12 month low of $13.80 and a 12 month high of $20.13. The firm’s 50 day moving average is $17.17 and its 200 day moving average is $18.38. The company has a market cap of $5.47 billion, a PE ratio of 19.01 and a beta of 0.81.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings results on Thursday, April 20th. The bank reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $342.80 million for the quarter, compared to analyst estimates of $336.29 million. People’s United Financial had a net margin of 19.46% and a return on equity of 5.98%. People’s United Financial’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, equities analysts predict that People’s United Financial, Inc. will post $0.95 earnings per share for the current year.

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Several research analysts have recently commented on the company. BidaskClub raised People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $19.00 target price on shares of People’s United Financial in a report on Friday, June 9th. Morgan Stanley raised People’s United Financial from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $16.50 to $17.50 in a report on Monday, June 5th. They noted that the move was a valuation call. Sandler O’Neill raised People’s United Financial from a “sell” rating to a “hold” rating and boosted their target price for the stock from $17.00 to $19.50 in a report on Friday, March 10th. Finally, Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Three research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $18.22.

In other news, Director Jerry Franklin sold 4,520 shares of People’s United Financial stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $16.72, for a total transaction of $75,574.40. Following the transaction, the director now owns 97,249 shares in the company, valued at $1,626,003.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert E. Trautmann sold 118,836 shares of People’s United Financial stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $17.08, for a total transaction of $2,029,718.88. Following the transaction, the vice president now owns 70,323 shares in the company, valued at approximately $1,201,116.84. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

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.

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