Northwestern Mutual Wealth Management Co. grew its holdings in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 8.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 23,427 shares of the bank’s stock after acquiring an additional 1,741 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in People’s United Financial were worth $414,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Benedict Financial Advisors Inc. raised its stake in shares of People’s United Financial by 0.3% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 15,537 shares of the bank’s stock worth $272,000 after buying an additional 47 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of 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 buying an additional 80 shares in the last quarter. ING Groep NV raised its stake in shares of People’s United Financial by 0.5% in the 2nd quarter. ING Groep NV now owns 17,637 shares of the bank’s stock worth $311,000 after buying an additional 94 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in shares of People’s United Financial by 0.8% in the 2nd quarter. Contravisory Investment Management Inc. now owns 13,274 shares of the bank’s stock worth $234,000 after buying an additional 104 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of People’s United Financial by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,583 shares of the bank’s stock worth $452,000 after buying an additional 104 shares in the last quarter. Institutional investors own 77.02% of the company’s stock.

Shares of People’s United Financial, Inc. (PBCT) opened at 16.91 on Friday. The stock’s 50 day moving average price is $16.91 and its 200-day moving average price is $17.53. People’s United Financial, Inc. has a 12 month low of $15.28 and a 12 month high of $20.13. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 18.91 and a beta of 0.82.

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 during the quarter, compared to analyst estimates of $357.16 million. People’s United Financial had a net margin of 18.88% and a return on equity of 6.14%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. On average, equities research analysts predict that People’s United Financial, Inc. will post $0.93 EPS for the current fiscal year.

In other news, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction on Tuesday, July 25th. The stock was 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 SEC, which is accessible through the SEC website. Corporate insiders own 2.70% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Northwestern Mutual Wealth Management Co. Has $414,000 Holdings in People’s United Financial, Inc. (PBCT)” was originally published by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/09/16/northwestern-mutual-wealth-management-co-has-414000-holdings-in-peoples-united-financial-inc-pbct.html.

PBCT has been the topic of a number of research reports. Morgan Stanley raised People’s United Financial from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $16.50 to $17.50 in a research note on Monday, June 5th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $19.00 price objective on shares of People’s United Financial in a research note on Friday, June 9th. BidaskClub raised People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Zacks Investment Research downgraded People’s United Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. 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 note on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.38.

People’s United Financial Company 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)

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.