MML Investors Services LLC Has $241,000 Position in People’s United Financial, Inc. (PBCT)
MML Investors Services LLC trimmed its stake in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 24.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,639 shares of the bank’s stock after selling 4,329 shares during the quarter. MML Investors Services LLC’s holdings in People’s United Financial were worth $241,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Glassman Wealth Services increased its holdings in People’s United Financial by 4,150.7% during the 2nd quarter. Glassman Wealth Services now owns 5,696 shares of the bank’s stock worth $101,000 after acquiring an additional 5,562 shares during the period. Ffcm LLC lifted its stake in People’s United Financial by 208.3% in the 2nd quarter. Ffcm LLC now owns 6,345 shares of the bank’s stock worth $114,000 after purchasing an additional 4,287 shares in the last quarter. Federated Investors Inc. PA lifted its stake in People’s United Financial by 0.8% in the 2nd quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock worth $171,000 after purchasing an additional 80 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its stake in People’s United Financial by 9.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 10,771 shares of the bank’s stock worth $190,000 after purchasing an additional 968 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in People’s United Financial in the 2nd quarter worth approximately $193,000. Institutional investors own 77.28% of the company’s stock.
In related news, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total transaction of $121,526.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Janet M. Hansen sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $17.14, for a total value of $205,680.00. Following the transaction, the director now directly owns 145,707 shares of the company’s stock, valued at $2,497,417.98. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.
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PBCT has been the subject of several analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $19.00 price target on shares of People’s United Financial in a report on Friday, June 9th. BidaskClub raised shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $17.75 price objective (up previously from $17.50) on shares of People’s United Financial in a research report on Friday, July 7th. Finally, Piper Jaffray Companies set a $16.00 price objective on People’s United Financial and gave the stock a “sell” rating in a research report on Thursday, August 17th. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. People’s United Financial currently has a consensus rating of “Hold” and an average target price of $18.38.
Shares of People’s United Financial, Inc. (NASDAQ:PBCT) opened at 18.14 on Wednesday. The company has a market capitalization of $6.12 billion, a P/E ratio of 20.29 and a beta of 0.84. People’s United Financial, Inc. has a 12-month low of $15.28 and a 12-month high of $20.13. The stock’s 50 day moving average is $17.02 and its 200-day moving average is $17.38.
People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The company had revenue of $366.50 million for the quarter, compared to analysts’ expectations of $357.16 million. People’s United Financial had a net margin of 18.88% and a return on equity of 6.14%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business earned $0.23 earnings per share. Analysts anticipate that People’s United Financial, Inc. will post $0.93 earnings per share for the current year.
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.
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