People’s United Financial, Inc. (NASDAQ:PBCT) Shares Sold by Unigestion Holding SA

Unigestion Holding SA trimmed its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 30.3% in the third quarter, Holdings Channel.com reports. The firm owned 1,325,449 shares of the bank’s stock after selling 575,013 shares during the period. Unigestion Holding SA’s holdings in People’s United Financial were worth $20,723,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amica Retiree Medical Trust acquired a new stake in People’s United Financial during the 2nd quarter valued at $30,000. Bartlett & Co. LLC acquired a new stake in People’s United Financial during the 3rd quarter valued at $37,000. Doyle Wealth Management acquired a new stake in People’s United Financial during the 2nd quarter valued at $38,000. AGF Investments LLC acquired a new stake in People’s United Financial during the 2nd quarter valued at $48,000. Finally, AdvisorNet Financial Inc grew its holdings in People’s United Financial by 706.8% during the 3rd quarter. AdvisorNet Financial Inc now owns 3,324 shares of the bank’s stock valued at $52,000 after purchasing an additional 2,912 shares in the last quarter. 76.58% of the stock is owned by institutional investors and hedge funds.

In other news, CAO Jeffrey Hoyt sold 14,263 shares of People’s United Financial stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $16.09, for a total value of $229,491.67. Following the completion of the transaction, the chief accounting officer now directly owns 25,199 shares of the company’s stock, valued at approximately $405,451.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David K. Norton sold 238,350 shares of People’s United Financial stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.65, for a total transaction of $3,968,527.50. Following the completion of the transaction, the vice president now directly owns 290,491 shares of the company’s stock, valued at $4,836,675.15. The disclosure for this sale can be found here. Insiders sold a total of 329,665 shares of company stock valued at $8,946,819 over the last ninety days. Company insiders own 2.40% of the company’s stock.

PBCT stock traded up $0.04 during mid-day trading on Friday, hitting $16.96. 2,546,660 shares of the company were exchanged, compared to its average volume of 3,737,375. The company has a market capitalization of $6.76 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 6.31 and a beta of 1.26. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.56. People’s United Financial, Inc. has a twelve month low of $13.66 and a twelve month high of $18.03. The firm has a fifty day simple moving average of $16.04 and a 200 day simple moving average of $16.03.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $462.00 million during the quarter, compared to analyst estimates of $452.39 million. People’s United Financial had a net margin of 23.32% and a return on equity of 8.17%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. As a group, sell-side analysts anticipate that People’s United Financial, Inc. will post 1.35 earnings per share for the current year.

People’s United Financial declared that its board has approved a stock buyback plan on Thursday, July 18th that allows the company to repurchase 20,000,000 shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Wednesday, October 30th. People’s United Financial’s dividend payout ratio is currently 54.20%.

Several research analysts have weighed in on the stock. Stephens assumed coverage on shares of People’s United Financial in a report on Tuesday, October 29th. They set an “equal weight” rating and a $16.00 price objective for the company. BidaskClub raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lowered shares of People’s United Financial from an “outperform” rating to a “market perform” rating and set a $16.00 price objective for the company. in a report on Thursday, September 5th. DA Davidson reissued a “buy” rating on shares of People’s United Financial in a report on Wednesday, September 11th. Finally, Zacks Investment Research lowered shares of People’s United Financial from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. People’s United Financial presently has a consensus rating of “Hold” and a consensus price target of $17.00.

About People’s United Financial

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.

Featured Article: How do analysts define an oversold condition?

Want to see what other hedge funds are holding PBCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for People’s United Financial, Inc. (NASDAQ:PBCT).

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

Receive News & Ratings for People's United Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for People's United Financial and related companies with MarketBeat.com's FREE daily email newsletter.