Aviva PLC cut its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 16.8% in the 4th quarter, Holdings Channel reports. The firm owned 137,431 shares of the bank’s stock after selling 27,812 shares during the period. Aviva PLC’s holdings in People’s United Financial were worth $1,983,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PBCT. Oppenheimer Asset Management Inc. bought a new stake in People’s United Financial in the fourth quarter worth $28,000. First Hawaiian Bank lifted its stake in People’s United Financial by 462.5% in the fourth quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock worth $29,000 after purchasing an additional 1,665 shares during the last quarter. Ipswich Investment Management Co. Inc. bought a new stake in People’s United Financial in the fourth quarter worth $41,000. Oregon Public Employees Retirement Fund lifted its stake in People’s United Financial by 1,456.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 586,724 shares of the bank’s stock worth $41,000 after purchasing an additional 549,017 shares during the last quarter. Finally, Cornerstone Advisors Inc. lifted its stake in People’s United Financial by 32.4% in the fourth 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. 76.96% of the stock is owned by institutional investors and hedge funds.

In related news, VP David K. Norton sold 32,163 shares of the business’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $14.89, for a total transaction of $478,907.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David P. Berey sold 129,431 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $17.90, for a total transaction of $2,316,814.90. Following the transaction, the executive vice president now owns 46,672 shares in the company, valued at approximately $835,428.80. The disclosure for this sale can be found here. Insiders have sold 197,382 shares of company stock worth $3,411,597 in the last quarter. 2.50% of the stock is owned by corporate insiders.

Shares of NASDAQ:PBCT opened at $17.47 on Friday. The stock has a market cap of $6.55 billion, a PE ratio of 13.34, a PEG ratio of 6.20 and a beta of 1.18. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. People’s United Financial, Inc. has a 12 month low of $13.66 and a 12 month high of $20.08.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, January 17th. The bank reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. The firm had revenue of $428.20 million during the quarter, compared to the consensus estimate of $432.25 million. People’s United Financial had a net margin of 24.34% and a return on equity of 8.11%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, equities analysts anticipate that People’s United Financial, Inc. will post 1.4 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, February 1st were paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Thursday, January 31st. People’s United Financial’s dividend payout ratio (DPR) is 53.44%.

PBCT has been the subject of several recent analyst reports. BidaskClub downgraded shares of People’s United Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 11th. ValuEngine raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Barclays reaffirmed a “hold” rating and set a $19.00 price objective on shares of People’s United Financial in a research note on Sunday, January 20th. Wells Fargo & Co reaffirmed a “hold” rating on shares of People’s United Financial in a research note on Thursday, January 3rd. Finally, FIG Partners initiated coverage on shares of People’s United Financial in a research note on Thursday, December 20th. They set an “outperform” rating for the company. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $19.92.

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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.

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

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