Canada Pension Plan Investment Board Has $4.71 Million Holdings in Popular, Inc. (NASDAQ:BPOP)

Canada Pension Plan Investment Board increased its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 144.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,100 shares of the bank's stock after buying an additional 29,600 shares during the period. Canada Pension Plan Investment Board owned 0.07% of Popular worth $4,712,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BPOP. Farringdon Capital Ltd. bought a new position in shares of Popular during the fourth quarter valued at about $596,000. Marshall Wace LLP raised its position in Popular by 5.3% during the fourth quarter. Marshall Wace LLP now owns 5,202 shares of the bank's stock valued at $489,000 after purchasing an additional 261 shares in the last quarter. Jump Financial LLC grew its stake in shares of Popular by 17.2% during the fourth quarter. Jump Financial LLC now owns 30,100 shares of the bank's stock valued at $2,831,000 after buying an additional 4,419 shares during the last quarter. Bridgewater Associates LP grew its stake in shares of Popular by 181.4% in the fourth quarter. Bridgewater Associates LP now owns 38,386 shares of the bank's stock worth $3,611,000 after purchasing an additional 24,744 shares during the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of Popular by 31.1% in the fourth quarter. Guggenheim Capital LLC now owns 3,257 shares of the bank's stock worth $306,000 after purchasing an additional 772 shares during the last quarter. Institutional investors own 87.27% of the company's stock.

Insider Transactions at Popular

In other news, EVP Eduardo J. Negron sold 10,000 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares of the company's stock, valued at approximately $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the transaction, the executive vice president now owns 39,170 shares of the company's stock, valued at $4,017,666.90. This represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company's stock.

Popular Stock Up 0.2 %

BPOP stock traded up $0.16 during midday trading on Monday, hitting $96.10. The company's stock had a trading volume of 495,725 shares, compared to its average volume of 487,855. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $106.81. The firm has a market capitalization of $6.66 billion, a P/E ratio of 11.23, a PEG ratio of 0.75 and a beta of 0.62. The firm has a 50-day simple moving average of $90.92 and a 200-day simple moving average of $95.21.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The firm had revenue of $755.46 million for the quarter, compared to the consensus estimate of $760.45 million. During the same quarter last year, the business posted $1.43 EPS. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts expect that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, March 18th. This represents a $2.80 annualized dividend and a yield of 2.91%. Popular's dividend payout ratio is presently 28.90%.

Analyst Upgrades and Downgrades

BPOP has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. StockNews.com cut Popular from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Barclays reiterated an "overweight" rating and issued a $125.00 target price (up previously from $115.00) on shares of Popular in a report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Hovde Group reduced their price target on shares of Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Popular presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.14.

Popular Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.