People's United Financial, Inc. (PBCT) Position Increased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of People's United Financial, Inc. (NASDAQ:PBCT) by 159.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 527,386 shares of the bank’s stock after purchasing an additional 324,400 shares during the quarter. Renaissance Technologies LLC owned about 0.15% of People's United Financial worth $9,862,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. grew its position in People's United Financial by 1.7% during the 4th quarter. BlackRock Inc. now owns 27,027,645 shares of the bank’s stock valued at $505,417,000 after purchasing an additional 447,723 shares during the last quarter. Wells Fargo & Company MN grew its position in People's United Financial by 3.1% during the 4th quarter. Wells Fargo & Company MN now owns 19,109,237 shares of the bank’s stock valued at $357,342,000 after purchasing an additional 567,940 shares during the last quarter. Dimensional Fund Advisors LP grew its position in People's United Financial by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,325,647 shares of the bank’s stock valued at $169,163,000 after purchasing an additional 110,404 shares during the last quarter. Geode Capital Management LLC grew its position in People's United Financial by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 4,114,715 shares of the bank’s stock valued at $76,800,000 after purchasing an additional 221,039 shares during the last quarter. Finally, First Trust Advisors LP grew its position in People's United Financial by 1.6% during the 4th quarter. First Trust Advisors LP now owns 2,812,297 shares of the bank’s stock valued at $52,590,000 after purchasing an additional 43,649 shares during the last quarter. 76.15% of the stock is currently owned by institutional investors.

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In other news, insider Galan G. Daukas sold 5,612 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $19.60, for a total value of $109,995.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jerry Franklin sold 4,300 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $19.91, for a total transaction of $85,613.00. Following the completion of the transaction, the director now owns 92,949 shares in the company, valued at approximately $1,850,614.59. The disclosure for this sale can be found here. Insiders sold a total of 75,127 shares of company stock worth $1,472,533 in the last quarter. Company insiders own 2.50% of the company’s stock.

Shares of NASDAQ PBCT opened at $18.39 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.66. The stock has a market cap of $6,508.35, a PE ratio of 17.68, a P/E/G ratio of 7.31 and a beta of 0.88. People's United Financial, Inc. has a 52-week low of $15.97 and a 52-week high of $20.26.

People's United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. People's United Financial had a net margin of 20.37% and a return on equity of 6.69%. The firm had revenue of $379.60 million for the quarter, compared to the consensus estimate of $392.70 million. During the same quarter last year, the firm posted $0.25 EPS. equities research analysts forecast that People's United Financial, Inc. will post 1.28 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of People's United Financial from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine raised shares of People's United Financial from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. BidaskClub downgraded shares of People's United Financial from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. UBS assumed coverage on shares of People's United Financial in a report on Thursday, March 22nd. They set a “neutral” rating and a $21.00 price target on the stock. Finally, Sandler O’Neill set a $21.00 price target on shares of People's United Financial and gave the company a “hold” rating in a report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $19.97.

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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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