Popular, Inc. $BPOP Shares Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. boosted its stake in Popular, Inc. by 83.1% in the fourth quarter, ending with 148,652 shares valued at about $18.5 million.
• Several analysts turned more bullish on BPOP, with multiple firms raising price targets; MarketBeat shows a consensus rating of Buy and a consensus target of $168.73.
• Popular reported better-than-expected quarterly EPS of $3.78 versus $3.30 estimated, and the company announced a $0.75 quarterly dividend to be paid July 1.

Jupiter Asset Management Ltd. increased its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 83.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,652 shares of the bank's stock after purchasing an additional 67,452 shares during the period. Jupiter Asset Management Ltd. owned 0.22% of Popular worth $18,510,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BPOP. Royal Bank of Canada raised its holdings in Popular by 23.1% during the first quarter. Royal Bank of Canada now owns 94,352 shares of the bank's stock worth $8,715,000 after purchasing an additional 17,729 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Popular during the first quarter worth approximately $257,000. Goldman Sachs Group Inc. raised its holdings in Popular by 60.6% during the first quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank's stock worth $20,647,000 after purchasing an additional 84,327 shares in the last quarter. Focus Partners Wealth bought a new stake in Popular during the first quarter worth approximately $207,000. Finally, Sivia Capital Partners LLC bought a new stake in Popular during the second quarter worth approximately $252,000. Institutional investors own 87.27% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on BPOP shares. Credit Suisse Group set a $156.00 target price on Popular in a report on Tuesday, February 3rd. UBS Group boosted their price target on shares of Popular from $160.00 to $170.00 and gave the company a "buy" rating in a report on Friday, April 24th. Keefe, Bruyette & Woods upped their price objective on shares of Popular from $155.00 to $177.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Weiss Ratings raised shares of Popular from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada upped their price objective on shares of Popular from $141.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $168.73.

Insider Buying and Selling at Popular

In other Popular news, Director Alejandro M. Ballester sold 23,000 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $150.00, for a total value of $3,450,000.00. Following the transaction, the director directly owned 34,588 shares of the company's stock, valued at approximately $5,188,200. This trade represents a 39.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $148.51, for a total transaction of $920,762.00. Following the completion of the transaction, the executive vice president directly owned 11,255 shares in the company, valued at approximately $1,671,480.05. The trade was a 35.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 29,500 shares of company stock valued at $4,415,870. 2.13% of the stock is currently owned by insiders.

Popular Stock Performance

Shares of BPOP stock opened at $148.53 on Friday. Popular, Inc. has a 52-week low of $102.00 and a 52-week high of $152.97. The stock has a market cap of $9.59 billion, a PE ratio of 10.97, a PEG ratio of 0.75 and a beta of 0.63. The firm's 50 day moving average price is $143.95 and its two-hundred day moving average price is $133.55.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.30 by $0.48. Popular had a net margin of 20.10% and a return on equity of 14.53%. The firm had revenue of $816.08 million for the quarter, compared to analysts' expectations of $866.54 million. During the same period last year, the firm earned $2.56 earnings per share. As a group, sell-side analysts predict that Popular, Inc. will post 15.14 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $3.00 dividend on an annualized basis and a yield of 2.0%. Popular's dividend payout ratio (DPR) is presently 22.16%.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company's product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.

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