Mercer Global Advisors Inc. ADV Takes $823,000 Position in People’s United Financial, Inc. (PBCT)

Mercer Global Advisors Inc. ADV acquired a new position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 57,042 shares of the bank’s stock, valued at approximately $823,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisor Partners LLC lifted its stake in shares of People’s United Financial by 4.9% during the 4th quarter. Advisor Partners LLC now owns 12,996 shares of the bank’s stock worth $188,000 after purchasing an additional 608 shares during the last quarter. World Asset Management Inc lifted its stake in shares of People’s United Financial by 3.1% during the 4th quarter. World Asset Management Inc now owns 21,873 shares of the bank’s stock worth $316,000 after purchasing an additional 651 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of People’s United Financial by 2.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 37,300 shares of the bank’s stock worth $538,000 after purchasing an additional 740 shares during the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of People’s United Financial by 32.4% during the 4th quarter. Cornerstone Advisors Inc. now owns 3,809 shares of the bank’s stock worth $55,000 after purchasing an additional 933 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of People’s United Financial by 7.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 15,099 shares of the bank’s stock worth $218,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Shares of NASDAQ:PBCT opened at $17.36 on Wednesday. People’s United Financial, Inc. has a 1 year low of $13.66 and a 1 year high of $19.37. The stock has a market cap of $6.42 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 6.09 and a beta of 1.16. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.

People’s United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, January 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. People’s United Financial had a return on equity of 8.11% and a net margin of 24.34%. The company had revenue of $428.20 million for the quarter, compared to analyst estimates of $432.25 million. During the same period in the prior year, the company posted $0.31 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts expect that People’s United Financial, Inc. will post 1.39 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on PBCT shares. BidaskClub upgraded People’s United Financial from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. Barclays upgraded People’s United Financial from an “underweight” rating to an “equal weight” rating and set a $18.00 price objective for the company in a research note on Thursday, January 10th. Zacks Investment Research raised People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine raised People’s United Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of People’s United Financial in a research report on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. People’s United Financial presently has an average rating of “Hold” and an average price target of $19.70.

In other news, Director Mark W. Richards sold 6,800 shares of the stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $16.43, for a total value of $111,724.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP David P. Berey sold 129,431 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $17.90, for a total value of $2,316,814.90. Following the completion of the transaction, the executive vice president now directly owns 46,672 shares in the company, valued at $835,428.80. The disclosure for this sale can be found here. Insiders have sold a total of 165,219 shares of company stock worth $2,932,690 over the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

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People’s United Financial Company Profile

People's United Financial, Inc operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company operates in two segments, Commercial Banking and Retail Banking.

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

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