Legal & General Group Plc cut its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 28.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,447 shares of the bank's stock after selling 27,201 shares during the period. Legal & General Group Plc owned approximately 0.10% of Popular worth $8,523,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Popular by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 8,489,936 shares of the bank's stock valued at $1,057,167,000 after buying an additional 37,424 shares in the last quarter. AQR Capital Management LLC lifted its stake in Popular by 56.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank's stock valued at $376,314,000 after buying an additional 1,065,452 shares in the last quarter. LSV Asset Management lifted its stake in Popular by 9.3% in the 4th quarter. LSV Asset Management now owns 1,043,733 shares of the bank's stock valued at $129,966,000 after buying an additional 88,765 shares in the last quarter. UBS Group AG lifted its stake in Popular by 28.1% in the 4th quarter. UBS Group AG now owns 540,646 shares of the bank's stock valued at $67,321,000 after buying an additional 118,496 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Popular by 13.2% in the 3rd quarter. Bank of America Corp DE now owns 501,673 shares of the bank's stock valued at $63,717,000 after buying an additional 58,485 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director Alejandro M. Sanchez sold 300 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total transaction of $45,108.00. Following the sale, the director owned 3,960 shares in the company, valued at approximately $595,425.60. This trade represents a 7.04% 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 this hyperlink. Also, Director Alejandro M. Ballester sold 23,000 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $150.00, for a total transaction of $3,450,000.00. Following the sale, the director owned 34,588 shares in the company, valued at approximately $5,188,200. This trade represents a 39.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 29,500 shares of company stock worth $4,415,870. 2.13% of the stock is owned by insiders.
Popular Stock Up 3.1%
Shares of Popular stock opened at $152.77 on Friday. Popular, Inc. has a 52-week low of $102.56 and a 52-week high of $153.29. The company's 50-day simple moving average is $145.42 and its 200-day simple moving average is $134.63. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 0.74 and a beta of 0.62.
Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.48. Popular had a net margin of 20.10% and a return on equity of 14.53%. The company had revenue of $816.08 million for the quarter, compared to analyst estimates of $866.54 million. During the same period in the prior year, the business posted $2.56 earnings per share. Equities research analysts anticipate that Popular, Inc. will post 15.14 EPS for the current year.
Popular Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th will be given a $0.75 dividend. The ex-dividend date is Friday, May 29th. This represents a $3.00 annualized dividend and a dividend yield of 2.0%. Popular's dividend payout ratio is currently 22.16%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on BPOP. Keefe, Bruyette & Woods raised their target price on shares of Popular from $155.00 to $177.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Citigroup lifted their target price on shares of Popular from $170.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. UBS Group lifted their target price on shares of Popular from $160.00 to $170.00 and gave the company a "buy" rating in a report on Friday, April 24th. Barclays boosted their price target on shares of Popular from $175.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada boosted their price target on shares of Popular from $141.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Popular presently has an average rating of "Buy" and a consensus price target of $168.73.
Get Our Latest Report on BPOP
Popular Company Profile
(
Free Report)
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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