Raymond James Financial Services Advisors Inc. decreased its position in People’s United Financial, Inc. (NASDAQ:PBCT) by 40.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,850 shares of the bank’s stock after selling 110,879 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in People’s United Financial were worth $2,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in PBCT. BlackRock Inc. lifted its position in People’s United Financial by 2,026.9% in the 1st quarter. BlackRock Inc. now owns 26,740,727 shares of the bank’s stock worth $486,681,000 after buying an additional 25,483,451 shares during the last quarter. Janus Henderson Group PLC lifted its position in People’s United Financial by 9,587.6% in the 2nd quarter. Janus Henderson Group PLC now owns 4,212,281 shares of the bank’s stock worth $74,389,000 after buying an additional 4,168,800 shares during the last quarter. Vanguard Group Inc. lifted its position in People’s United Financial by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 32,902,001 shares of the bank’s stock worth $598,816,000 after buying an additional 3,027,697 shares during the last quarter. State Street Corp lifted its position in People’s United Financial by 6.2% in the 2nd quarter. State Street Corp now owns 39,968,330 shares of the bank’s stock worth $705,843,000 after buying an additional 2,316,636 shares during the last quarter. Finally, Janus Capital Management LLC lifted its position in People’s United Financial by 86.2% in the 1st quarter. Janus Capital Management LLC now owns 3,574,254 shares of the bank’s stock worth $65,051,000 after buying an additional 1,654,567 shares during the last quarter. Institutional investors own 77.19% of the company’s stock.

In other news, 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 value of $205,680.00. Following the sale, the director now directly owns 145,707 shares in the company, valued at $2,497,417.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total value of $121,526.82. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

People’s United Financial, Inc. (PBCT) opened at 18.28 on Tuesday. The stock has a market capitalization of $6.17 billion, a PE ratio of 20.45 and a beta of 0.84. People’s United Financial, Inc. has a 52 week low of $15.38 and a 52 week high of $20.13. The firm has a 50-day moving average price of $17.37 and a 200-day moving average price of $17.39.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). The company had revenue of $366.50 million during the quarter, compared to the consensus estimate of $357.16 million. People’s United Financial had a net margin of 18.88% and a return on equity of 6.14%. People’s United Financial’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. Equities research analysts predict that People’s United Financial, Inc. will post $0.93 EPS for the current fiscal year.

A number of analysts recently weighed in on the company. Piper Jaffray Companies set a $16.00 target price on People’s United Financial and gave the stock a “sell” rating in a research report on Thursday, August 17th. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Jefferies Group LLC restated a “hold” rating and issued a $19.00 target price on shares of People’s United Financial in a research report on Friday, August 18th. BidaskClub downgraded People’s United Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $17.75 price target (up from $17.50) on shares of People’s United Financial in a research note on Friday, July 7th. Three equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $18.75.

TRADEMARK VIOLATION WARNING: This article was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://www.dailypolitical.com/2017/10/17/raymond-james-financial-services-advisors-inc-sells-110879-shares-of-peoples-united-financial-inc-pbct.html.

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.

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 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.