Man Group plc Has $1.38 Million Stock Position in Popular, Inc. (NASDAQ:BPOP)

Man Group plc decreased its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 15.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,628 shares of the bank's stock after selling 2,623 shares during the period. Man Group plc's holdings in Popular were worth $1,376,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BPOP. CIBC Asset Management Inc raised its holdings in Popular by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock worth $211,000 after buying an additional 112 shares during the last quarter. Picton Mahoney Asset Management boosted its position in shares of Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after acquiring an additional 118 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Popular by 0.7% during the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock worth $1,971,000 after acquiring an additional 143 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Popular by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 31,357 shares of the bank's stock valued at $2,949,000 after purchasing an additional 190 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Popular by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank's stock valued at $2,888,000 after purchasing an additional 214 shares in the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Hovde Group lowered their price target on shares of Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Barclays reaffirmed an "overweight" rating and set a $125.00 target price (up from $115.00) on shares of Popular in a report on Thursday, April 24th. Wells Fargo & Company raised shares of Popular from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $110.00 to $100.00 in a report on Wednesday, April 9th. Finally, Piper Sandler lifted their target price on shares of Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $114.43.

Popular Price Performance

Shares of BPOP stock traded up $0.92 during trading hours on Thursday, hitting $103.31. The stock had a trading volume of 171,172 shares, compared to its average volume of 506,721. The firm has a market capitalization of $7.08 billion, a PE ratio of 12.07, a PEG ratio of 0.75 and a beta of 0.60. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $106.81. The stock's 50 day moving average is $94.17 and its 200 day moving average is $96.28.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.30. The firm had revenue of $755.46 million during the quarter, compared to the consensus estimate of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. The company's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. As a group, equities analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Thursday, May 29th. Popular's payout ratio is 28.90%.

Insiders Place Their Bets

In related news, VP Adorno Denissa Rodriguez sold 500 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total transaction of $52,215.00. Following the transaction, the vice president now directly owns 3,604 shares of the company's stock, valued at approximately $376,365.72. The trade was a 12.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.09% of the stock is owned by corporate insiders.

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.