Renaissance Technologies LLC raised its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 68.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,274,586 shares of the bank’s stock after acquiring an additional 517,377 shares during the period. Renaissance Technologies LLC owned 0.38% of People’s United Financial worth $22,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PBCT. Comerica Bank raised its holdings in People’s United Financial by 0.7% in the 1st quarter. Comerica Bank now owns 76,133 shares of the bank’s stock valued at $1,358,000 after acquiring an additional 534 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of People’s United Financial by 7.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,302,527 shares of the bank’s stock worth $23,706,000 after buying an additional 89,615 shares during the last quarter. Mason Street Advisors LLC increased its holdings in shares of People’s United Financial by 11.1% during the 1st quarter. Mason Street Advisors LLC now owns 47,305 shares of the bank’s stock worth $861,000 after buying an additional 4,709 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of People’s United Financial by 217.5% during the 1st quarter. JPMorgan Chase & Co. now owns 394,453 shares of the bank’s stock worth $7,178,000 after buying an additional 270,217 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of People’s United Financial by 26.4% during the 1st quarter. KBC Group NV now owns 42,033 shares of the bank’s stock worth $765,000 after buying an additional 8,780 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

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Shares of People’s United Financial, Inc. (PBCT) opened at 18.32 on Wednesday. People’s United Financial, Inc. has a 12 month low of $15.28 and a 12 month high of $20.13. The stock has a market capitalization of $6.18 billion, a PE ratio of 20.49 and a beta of 0.84. The company’s 50-day moving average is $17.22 and its 200-day moving average is $17.39.

People’s United Financial (NASDAQ:PBCT) last released its earnings results 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). People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The company had revenue of $366.50 million during the quarter, compared to analysts’ expectations of $357.16 million. During the same quarter in the previous year, the company earned $0.23 EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts expect that People’s United Financial, Inc. will post $0.93 earnings per share for the current fiscal year.

In other People’s United Financial news, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $17.98, for a total value of $121,526.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet M. Hansen sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $17.14, for a total transaction of $205,680.00. Following the completion of the sale, the director now owns 145,707 shares of the company’s stock, valued at approximately $2,497,417.98. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

A number of analysts have recently commented on the company. Piper Jaffray Companies restated a “sell” rating and set a $16.00 price objective on shares of People’s United Financial in a report on Wednesday, October 4th. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Jefferies Group LLC restated a “hold” rating and set a $19.00 price objective on shares of People’s United Financial in a report on Friday, August 18th. BidaskClub downgraded People’s United Financial from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Morgan Stanley restated an “equal weight” rating and set a $17.75 price objective (up from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Three analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.38.

People’s United Financial Profile

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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