Metropolitan Life Insurance Co. NY increased its stake in People’s United Financial, Inc. (NASDAQ:PBCT) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,527 shares of the bank’s stock after buying an additional 182 shares during the period. Metropolitan Life Insurance Co. NY owned 0.05% of People’s United Financial worth $2,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PBCT. Advisory Services Network LLC bought a new position in shares of People’s United Financial during the first quarter valued at about $137,000. Mn Services Vermogensbeheer B.V. raised 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 in the last quarter. Daiwa Securities Group Inc. raised 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 in the last quarter. Federated Investors Inc. PA bought a new position in shares of People’s United Financial during the fourth quarter valued at about $184,000. Finally, Macquarie Group Ltd. raised 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 in the last quarter. 76.82% of the stock is owned by institutional investors and hedge funds.

People’s United Financial, Inc. (NASDAQ PBCT) opened at 17.79 on Friday. People’s United Financial, Inc. has a 52-week low of $14.22 and a 52-week high of $20.13. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 19.19 and a beta of 0.82. The stock has a 50 day moving average price of $17.15 and a 200 day moving average price of $18.27.

People’s United Financial (NASDAQ:PBCT) last posted its earnings results on Thursday, April 20th. The bank reported $0.22 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.22. People’s United Financial had a net margin of 19.46% and a return on equity of 5.98%. The company had revenue of $342.80 million during the quarter, compared to analyst estimates of $336.29 million. During the same period in the prior year, the business posted $0.21 earnings per share. People’s United Financial’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts forecast that People’s United Financial, Inc. will post $0.95 earnings per share for the current year.

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Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of People’s United Financial in a research report on Monday, July 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $17.75 target price (up from $17.50) on shares of People’s United Financial in a research report on Friday, July 7th. Zacks Investment Research raised People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, BidaskClub raised People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Three research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $18.25.

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

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

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