Envestnet Asset Management Inc. Purchases 8,262 Shares of Popular, Inc. (NASDAQ:BPOP)

Envestnet Asset Management Inc. raised its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,106 shares of the bank's stock after buying an additional 8,262 shares during the period. Envestnet Asset Management Inc. owned 0.13% of Popular worth $8,046,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BPOP. Norges Bank acquired a new position in Popular in the fourth quarter valued at about $79,842,000. Massachusetts Financial Services Co. MA boosted its position in Popular by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank's stock valued at $133,446,000 after buying an additional 515,798 shares in the last quarter. First Trust Advisors LP boosted its position in Popular by 53.8% in the fourth quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank's stock valued at $123,496,000 after buying an additional 459,231 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Popular by 5.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock valued at $394,373,000 after buying an additional 201,067 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Popular by 32.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 723,384 shares of the bank's stock valued at $68,041,000 after buying an additional 175,327 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, VP Adorno Denissa Rodriguez sold 500 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total transaction of $52,215.00. Following the completion of the sale, the vice president directly owned 3,604 shares of the company's stock, valued at $376,365.72. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Camille Burckhart sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total transaction of $728,980.00. Following the sale, the executive vice president directly owned 27,382 shares of the company's stock, valued at approximately $2,851,561.48. This trade represents a 20.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.09% of the company's stock.

Popular Trading Up 0.8%

Shares of BPOP traded up $0.96 on Friday, reaching $115.33. 491,444 shares of the company's stock were exchanged, compared to its average volume of 509,399. The stock has a market capitalization of $7.90 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 0.62 and a beta of 0.63. The business has a 50 day moving average price of $108.56 and a two-hundred day moving average price of $100.10. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $118.54.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.60 by $0.49. The business had revenue of $800.03 million during the quarter, compared to the consensus estimate of $777.38 million. Popular had a net margin of 16.49% and a return on equity of 12.60%. During the same period in the previous year, the firm posted $2.46 earnings per share. Equities research analysts predict that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, May 29th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, May 29th. Popular's dividend payout ratio (DPR) is 27.13%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BPOP shares. UBS Group reiterated a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Piper Sandler upped their target price on shares of Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Citigroup upped their target price on shares of Popular from $133.00 to $142.00 and gave the stock a "buy" rating in a research report on Thursday. Wells Fargo & Company upped their target price on shares of Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods upped their target price on shares of Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.88.

Popular Company 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.