Metropolitan Life Insurance Co NY reduced its holdings in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,252 shares of the bank’s stock after selling 1,404 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in People’s United Financial were worth $875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. M Holdings Securities Inc. increased its position in People’s United Financial by 96.6% in the first quarter. M Holdings Securities Inc. now owns 407,179 shares of the bank’s stock worth $6,694,000 after buying an additional 200,087 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of People’s United Financial by 11.4% in the 1st quarter. Nordea Investment Management AB now owns 96,687 shares of the bank’s stock valued at $1,589,000 after purchasing an additional 9,883 shares during the last quarter. GYL Financial Synergies LLC bought a new stake in shares of People’s United Financial in the 1st quarter valued at approximately $401,000. Thor Advisors LLC purchased a new stake in shares of People’s United Financial in the first quarter worth approximately $51,000. Finally, Riverhead Capital Management LLC raised its holdings in shares of People’s United Financial by 0.4% in the first quarter. Riverhead Capital Management LLC now owns 257,395 shares of the bank’s stock worth $4,232,000 after buying an additional 900 shares during the period. 75.82% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO R David Rosato sold 39,250 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $16.20, for a total transaction of $635,850.00. Following the sale, the chief financial officer now owns 137,952 shares of the company’s stock, valued at $2,234,822.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark F. Herron sold 4,466 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.36, for a total value of $77,529.76. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
Shares of People’s United Financial stock traded up $0.20 on Thursday, hitting $16.47. 3,879,157 shares of the company were exchanged, compared to its average volume of 3,479,496. The stock has a market cap of $6.48 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 6.02 and a beta of 1.22. The stock’s 50-day moving average is $16.36. People’s United Financial, Inc. has a 1-year low of $13.66 and a 1-year high of $19.00. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.39.
People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, April 18th. The bank reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. People’s United Financial had a return on equity of 8.16% and a net margin of 23.64%. The firm had revenue of $427.40 million for the quarter, compared to analysts’ expectations of $432.11 million. During the same period in the prior year, the firm posted $1.30 earnings per share. As a group, sell-side analysts predict that People’s United Financial, Inc. will post 1.36 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be issued a $0.1775 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 4.31%. People’s United Financial’s dividend payout ratio is presently 54.20%.
People’s United Financial Company Profile
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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