People's United Financial, Inc. (PBCT) Position Decreased by Allianz Asset Management AG

Allianz Asset Management AG cut its stake in shares of People's United Financial, Inc. (NASDAQ:PBCT) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,326 shares of the company’s stock after selling 1,931 shares during the period. Allianz Asset Management AG’s holdings in People's United Financial were worth $317,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of People's United Financial by 41.9% in the third quarter. Wells Fargo & Company MN now owns 14,623,420 shares of the company’s stock worth $231,343,000 after buying an additional 4,320,486 shares during the period. BlackRock Fund Advisors increased its stake in shares of People's United Financial by 4.2% in the third quarter. BlackRock Fund Advisors now owns 9,785,005 shares of the company’s stock worth $154,799,000 after buying an additional 391,770 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of People's United Financial by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 9,325,559 shares of the company’s stock worth $147,530,000 after buying an additional 91,179 shares during the period. Epoch Investment Partners Inc. increased its stake in shares of People's United Financial by 2.1% in the third quarter. Epoch Investment Partners Inc. now owns 8,568,134 shares of the company’s stock worth $135,548,000 after buying an additional 174,192 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of People's United Financial by 6.3% in the third quarter. Bank of New York Mellon Corp now owns 7,119,344 shares of the company’s stock worth $112,627,000 after buying an additional 423,478 shares during the period. 80.80% of the stock is currently owned by institutional investors and hedge funds.

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

People's United Financial, Inc. (NASDAQ:PBCT) opened at 18.04 on Monday. 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 $18.89 and its 200 day moving average is $17.97. The stock has a market capitalization of $5.57 billion, a P/E ratio of 19.65 and a beta of 0.83.

People's United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, January 19th. The company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. People's United Financial had a net margin of 19.12% and a return on equity of 5.86%. During the same period in the previous year, the business posted $0.22 EPS. Equities analysts expect that People's United Financial, Inc. will post $0.96 EPS for the current year.

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A number of brokerages recently issued reports on PBCT. JPMorgan Chase & Co. began coverage on shares of People's United Financial in a report on Thursday, January 5th. They set a “neutral” rating and a $20.50 price target on the stock. Stephens began coverage on shares of People's United Financial in a report on Wednesday, December 21st. They set an “equal weight” rating 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 Friday, January 6th. Wells Fargo & Co began coverage on shares of People's United Financial in a report on Friday, January 6th. They set a “market perform” rating on the stock. Finally, FBR & Co raised shares of People's United Financial from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $15.00 to $20.00 in a report on Tuesday, December 20th. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.25.

In other news, Director Richard M. Hoyt sold 100,000 shares of People's United Financial stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $18.89, for a total value of $1,889,000.00. Following the transaction, the director now directly owns 62,882 shares of the company’s stock, valued at approximately $1,187,840.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David K. Norton sold 149,965 shares of People's United Financial stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $19.24, for a total transaction of $2,885,326.60. Following the completion of the transaction, the vice president now directly owns 276,891 shares in the company, valued at $5,327,382.84. The disclosure for this sale can be found here. Insiders sold a total of 292,768 shares of company stock worth $5,590,175 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

About People's United Financial

People’s United Financial, Inc (People’s United) is the bank holding company for People’s United Bank, National Association (the Bank). The principal business of the Company is to provide, through the Bank and its subsidiaries, commercial banking, retail banking and wealth management services to individual, corporate and municipal customers.

5 Day Chart for NASDAQ:PBCT

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