Yesterday, People’s United Financial, Inc. (NASDAQ:PBCT) saw two of its insiders complete stock dispositions. The largest sale was executed by company Director Mark Richards, who unloaded 30,000 shares of Common Stock, directly, for a weighted average sales price of $14.36 per share. Following the insider’s first stock sale of the fiscal year, he now owns a total of 301,539 company holdings.
The second insider to complete a disposition yesterday is Kevin Bottomley, also Director at the $4.4 billion market cap loan holding firm. The insider sold 14,803 shares of Common Stock, directly, and for a weighted average price of $14.31 per share. This transaction was also the first to be completed on behalf of Bottomley this year and he now holds a total of 128,835 company shares to his name.
While People’s United’s insiders have been keen to unload stock this week, last quarter showed a mixed picture amongst hedge funds. Some hedge funds reduce the firm’s portfolio participation, but Ken Gray and Steve Walsh’s Bryn Mawr Capital increased the stakes by 12%, boosting the hedge funds holdings to 179,985, worth $2.67 million.