People’s United Financial, Inc. (PBCT) Stake Lessened by Aperio Group LLC

Aperio Group LLC cut its holdings in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 175,987 shares of the bank’s stock after selling 5,099 shares during the period. Aperio Group LLC owned 0.05% of People’s United Financial worth $3,013,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of People’s United Financial by 0.6% during the second quarter. BlackRock Inc. now owns 32,213,648 shares of the bank’s stock worth $582,747,000 after purchasing an additional 190,316 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of People’s United Financial by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,386,117 shares of the bank’s stock valued at $169,799,000 after acquiring an additional 185,833 shares during the period. First Trust Advisors LP increased its position in shares of People’s United Financial by 63.7% in the 2nd quarter. First Trust Advisors LP now owns 4,844,250 shares of the bank’s stock valued at $87,632,000 after acquiring an additional 1,885,432 shares during the period. Great West Life Assurance Co. Can increased its position in shares of People’s United Financial by 1.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 2,962,033 shares of the bank’s stock valued at $53,674,000 after acquiring an additional 28,462 shares during the period. Finally, Alps Advisors Inc. increased its position in shares of People’s United Financial by 4.3% in the 2nd quarter. Alps Advisors Inc. now owns 2,585,270 shares of the bank’s stock valued at $48,345,000 after acquiring an additional 106,056 shares during the period. 78.32% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on PBCT. BidaskClub raised People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. ValuEngine downgraded People’s United Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Wells Fargo & Co set a $18.00 target price on People’s United Financial and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.50 target price on shares of People’s United Financial in a research report on Monday, July 23rd. Three research analysts have rated the stock with a sell rating, five have given 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 target price of $20.21.

Shares of PBCT opened at $15.78 on Tuesday. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 6.10 and a beta of 0.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95. People’s United Financial, Inc. has a fifty-two week low of $15.04 and a fifty-two week high of $20.26.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. The company had revenue of $398.70 million for the quarter, compared to the consensus estimate of $404.65 million. People’s United Financial had a return on equity of 7.94% and a net margin of 23.98%. During the same period last year, the firm earned $0.26 EPS. On average, analysts expect that People’s United Financial, Inc. will post 1.29 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 4.44%. The ex-dividend date is Wednesday, October 31st. People’s United Financial’s dividend payout ratio is currently 67.31%.

In other People’s United Financial news, Director George P. Carter sold 10,874 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $18.70, for a total transaction of $203,343.80. Following the sale, the director now directly owns 13,758 shares of the company’s stock, valued at approximately $257,274.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark F. Herron sold 10,976 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $18.65, for a total value of $204,702.40. Following the sale, the insider now directly owns 31,242 shares in the company, valued at $582,663.30. The disclosure for this sale can be found here. Insiders have sold a total of 70,050 shares of company stock worth $1,274,200 over the last ninety days. 2.50% of the stock is owned by insiders.

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

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