Robeco Institutional Asset Management B.V. reduced its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 71.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,050,135 shares of the bank’s stock after selling 2,611,487 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.31% of People’s United Financial worth $18,546,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Asset Management Company LTD raised its position in People’s United Financial by 14.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,490 shares of the bank’s stock worth $500,000 after buying an additional 3,524 shares in the last quarter. Russell Investments Group Ltd. raised its position in People’s United Financial by 15.5% in the first quarter. Russell Investments Group Ltd. now owns 319,528 shares of the bank’s stock worth $5,816,000 after buying an additional 42,957 shares in the last quarter. Shell Asset Management Co. raised its position in People’s United Financial by 9.7% in the first quarter. Shell Asset Management Co. now owns 142,503 shares of the bank’s stock worth $2,594,000 after buying an additional 12,656 shares in the last quarter. ProShare Advisors LLC raised its position in People’s United Financial by 5.4% in the first quarter. ProShare Advisors LLC now owns 85,519 shares of the bank’s stock worth $1,556,000 after buying an additional 4,380 shares in the last quarter. Finally, First Manhattan Co. raised its position in People’s United Financial by 67.3% in the first quarter. First Manhattan Co. now owns 36,097 shares of the bank’s stock worth $571,000 after buying an additional 14,518 shares in the last quarter. Hedge funds and other institutional investors own 77.02% of the company’s stock.

People’s United Financial, Inc. (NASDAQ PBCT) opened at 16.76 on Tuesday. People’s United Financial, Inc. has a 12 month low of $15.28 and a 12 month high of $20.13. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 18.75 and a beta of 0.82. The company’s 50-day moving average is $17.35 and its 200-day moving average is $17.77.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.04. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The business had revenue of $366.50 million during the quarter, compared to analysts’ expectations of $357.16 million. During the same period in the prior year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts anticipate that People’s United Financial, Inc. will post $0.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were given a $0.1725 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.69 annualized dividend and a yield of 4.12%. People’s United Financial’s dividend payout ratio is currently 77.53%.

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A number of research firms have recently commented on PBCT. BidaskClub raised shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of People’s United Financial in a research report on Tuesday, May 9th. Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Piper Jaffray Companies set a $16.00 price target on shares of People’s United Financial and gave the company a “sell” rating in a research report on Thursday, August 17th. Finally, Morgan Stanley raised shares of People’s United Financial from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $16.50 to $17.50 in a research report on Monday, June 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. People’s United Financial presently has a consensus rating of “Hold” and a consensus target price of $18.48.

In other news, VP Robert E. Trautmann sold 118,836 shares of the company’s 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 of the company’s stock, valued at approximately $1,201,116.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Hoyt sold 6,759 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $17.98, for a total value of $121,526.82. 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.

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

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