Nuveen Asset Management LLC Has $15.20 Million Position in Popular, Inc. (NASDAQ:BPOP)

Nuveen Asset Management LLC increased its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 161,612 shares of the bank's stock after buying an additional 5,404 shares during the quarter. Nuveen Asset Management LLC owned about 0.23% of Popular worth $15,201,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after acquiring an additional 218 shares during the last quarter. KBC Group NV lifted its position in Popular by 1,719.6% during the fourth quarter. KBC Group NV now owns 37,775 shares of the bank's stock valued at $3,553,000 after buying an additional 35,699 shares in the last quarter. American Century Companies Inc. grew its stake in Popular by 3.0% during the fourth quarter. American Century Companies Inc. now owns 1,362,875 shares of the bank's stock worth $128,192,000 after buying an additional 39,999 shares during the period. Harbor Advisors LLC increased its position in shares of Popular by 30.0% in the fourth quarter. Harbor Advisors LLC now owns 13,000 shares of the bank's stock worth $1,223,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in Popular by 23.3% in the fourth quarter. Teacher Retirement System of Texas now owns 24,037 shares of the bank's stock valued at $2,261,000 after purchasing an additional 4,550 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Hovde Group cut 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. Piper Sandler lifted their price objective on shares of Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Wall Street Zen cut Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Barclays reaffirmed an "overweight" rating and set a $125.00 target price (up previously from $115.00) on shares of Popular in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $114.43.

Insider Activity

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the completion of the sale, the vice president now owns 3,604 shares in the company, valued at $376,365.72. This represents a 12.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.09% of the company's stock.

Popular Stock Performance

Shares of NASDAQ:BPOP traded down $0.59 during midday trading on Friday, reaching $103.16. The company had a trading volume of 40,609 shares, compared to its average volume of 590,888. The company has a fifty day simple moving average of $94.39 and a two-hundred day simple moving average of $96.33. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $106.81.

Popular (NASDAQ:BPOP - Get Free Report) last released its 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. Popular had a net margin of 14.15% and a return on equity of 11.89%. The business had revenue of $755.46 million for the quarter, compared to the consensus estimate of $760.45 million. During the same period last year, the firm posted $1.43 earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. Analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Thursday, May 29th. Popular's dividend payout ratio (DPR) is currently 28.90%.

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.