Sei Investments Co. Grows Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Key Points

• Sei Investments Co. increased its holdings in Popular, Inc. by 15.1% in the first quarter, owning 375,653 shares worth approximately $35.16 million at the end of the period.
• Popular, Inc. reported earnings of $3.09 per share for the last quarter, surpassing analysts' expectations by $0.49 and achieving a revenue of $800.03 million.
• Analysts have mixed views on Popular, with reports showing a consensus rating of "Moderate Buy" and various price target increases, ranging from $126.00 to $140.00.

Sei Investments Co. increased its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 15.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 375,653 shares of the bank's stock after acquiring an additional 49,307 shares during the period. Sei Investments Co. owned about 0.54% of Popular worth $35,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in Popular by 589.9% during the first quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock valued at $76,000 after buying an additional 702 shares during the period. PNC Financial Services Group Inc. boosted its position in Popular by 33.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the bank's stock valued at $162,000 after buying an additional 438 shares during the period. Crestline Management LP purchased a new stake in Popular during the fourth quarter valued at about $215,000. Vise Technologies Inc. purchased a new stake in Popular during the fourth quarter valued at about $227,000. Finally, OneAscent Investment Solutions LLC purchased a new stake in Popular during the first quarter valued at about $249,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Popular

In other Popular news, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total transaction of $728,980.00. Following the completion of the transaction, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.09% of the company's stock.

Popular Price Performance

BPOP stock traded down $1.28 during trading on Friday, reaching $118.00. The company had a trading volume of 410,270 shares, compared to its average volume of 426,441. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $119.54. The company has a market cap of $7.97 billion, a P/E ratio of 11.43, a PEG ratio of 0.61 and a beta of 0.65. The business has a 50 day moving average of $112.06 and a 200 day moving average of $101.83.

Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.48%. The business had revenue of $800.03 million during the quarter, compared to the consensus estimate of $777.38 million. During the same quarter last year, the firm earned $2.46 earnings per share. Research analysts expect that Popular, Inc. will post 10.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler upped their price target 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. Wells Fargo & Company upped their price objective on shares of Popular from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Hovde Group upped their price objective on shares of Popular from $126.00 to $140.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Popular in a research note on Thursday, July 24th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Popular currently has an average rating of "Moderate Buy" and an average target price of $128.88.

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.