People’s United Financial: Insider and Fund Share Sales in Third Quarter

Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently decreased stock shares of People’s United Financial Inc. (NASDAQ:PBCT).

SEC data indicate these insiders have sold People’s United Financial Inc.’s stock since 06/30/2011:

  • D’amore Robert R: act as Sen. Exec. VP. On 11/09/2011, sold 42,525 shares, worth $532,000.
  • Franklin Jerry: act as Director. On 11/01/2011, sold 11,800 shares, worth $146,000.
  • Thomas James A: act as Director. On 10/27/2011, sold 5,771 shares, worth $74,000.
  • Hoyt Jeffrey: act as Controller. On 08/30/2011, sold 2,500 shares, worth $28,600.
  • Walters Kirk W: act as Senior Exec VP and CFO(Click HERE for the list of stocks that their CFOs have bought). On 08/31/2011, sold 1,580 shares, worth $18,500.

SEC data indicate that these institutions significantly reduced their stock shares of People’s United Financial Inc. in Q3 2011:

  • ALPINE ASSOCIATES ADVISORS: On 06/30/2011, held 748,858 shares, worth $9,817,528. On 09/30/2011, held 0 shares.
  • MANNING & NAPIER ADVISORS LLC: On 06/30/2011, held 535,210 shares, worth $7,016,603. On 09/30/2011, held 0 shares.
  • ASCEND CAPITAL LLC: On 06/30/2011, held 500,000 shares, worth $6,555,000. On 09/30/2011, held 0 shares.
  • LEE MUNDER CAPITAL GROUP, LLC: On 06/30/2011, held 442,262 shares, worth $5,798,055. On 09/30/2011, held 0 shares.
  • HOVDE CAPITAL ADVISORS LLC: On 06/30/2011, held 393,850 shares, worth $5,163,374. On 09/30/2011, held 0 shares.

About the company: People’s United Financial Inc. is a bank holding company. The Company, through its banking subsidiary, offers a full range of financial services to individual, corporate, and municipal customers primarily in Connecticut. The Bank issues credit cards and provides brokerage and investment planning, asset management, equipment leasing, and insurance services.

Competitors to Watch: Northeast Bancorp/ME (NASDAQ:NBN), Naugatuck Valley Financial Corp. (NASDAQ:NVSL), Berkshire Hills Bancorp, Inc. (NASDAQ:BHLB), New Hampshire Thrift Bancshares, Inc. (NASDAQ:NHTB), Brookline Bancorp, Inc. (NASDAQ:BRKL), NewAlliance Bancshares, Inc. (NYSE:NAL), SI Financial Group, Inc. (NASDAQ:SIFID), Oneida Financial Corp. (NASDAQ:ONFC), and Westfield Financial, Inc. (NASDAQ:WFD).

(Note: Data regarding People’s United Financial Inc.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

Advantage: Check out our interactive stock charts, fundamentals, Twitter stream, and more >>

Improve Your 2011 Financial Health: Join the winning team of stock pickers with Wall St. Cheat Sheet’s acclaimed premium newsletter>>

More from The Cheat Sheet