Assenagon Asset Management S.A. decreased its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 13.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,329 shares of the bank’s stock after selling 7,908 shares during the period. Assenagon Asset Management S.A.’s holdings in People’s United Financial were worth $871,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in People’s United Financial during the first quarter worth approximately $137,000. Mn Services Vermogensbeheer B.V. raised its stake in People’s United Financial by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,076 shares of the bank’s stock worth $137,000 after buying an additional 394 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in People’s United Financial by 19.2% in the first quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the bank’s stock worth $158,000 after buying an additional 1,400 shares during the last quarter. Federated Investors Inc. PA acquired a new stake in People’s United Financial during the fourth quarter worth approximately $184,000. Finally, Macquarie Group Ltd. raised its stake in People’s United Financial by 25.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,800 shares of the bank’s stock worth $189,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 75.03% of the company’s stock.
Shares of People’s United Financial, Inc. (PBCT) opened at 17.17 on Tuesday. The stock has a market capitalization of $5.80 billion, a P/E ratio of 19.21 and a beta of 0.82. The company has a 50 day moving average price of $17.57 and a 200-day moving average price of $17.88. People’s United Financial, Inc. has a 52-week low of $15.27 and a 52-week high of $20.13.
People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 return on equity of 6.14% and a net margin of 18.88%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. On average, analysts predict that People’s United Financial, Inc. will post $0.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be paid a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, July 28th. People’s United Financial’s dividend payout ratio is presently 77.53%.
WARNING: “People’s United Financial, Inc. (NASDAQ:PBCT) Stake Reduced by Assenagon Asset Management S.A.” was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://stocknewstimes.com/2017/08/15/peoples-united-financial-inc-nasdaqpbct-shares-sold-by-assenagon-asset-management-s-a-updated-updated-updated.html.
Several analysts recently commented on the company. BidaskClub raised People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of People’s United Financial in a report on Tuesday, May 9th. Zacks Investment Research raised People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Morgan Stanley raised People’s United Financial from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $16.50 to $17.50 in a 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 nine have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.25.
In other news, Director Jerry Franklin sold 4,520 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $16.72, for a total value of $75,574.40. Following the transaction, the director now owns 97,249 shares of the company’s stock, valued at approximately $1,626,003.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Hoyt sold 6,759 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $17.98, for a total transaction of $121,526.82. The disclosure for this sale can be found here. In the last three months, insiders sold 130,115 shares of company stock worth $2,226,820. Insiders own 2.70% of the company’s stock.
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.
Receive News & Ratings for People's United Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for People's United Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
