Jane Street Group LLC Lowers Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Jane Street Group LLC cut its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 50.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,606 shares of the bank's stock after selling 38,162 shares during the quarter. Jane Street Group LLC owned approximately 0.05% of Popular worth $3,537,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BPOP. Vanguard Group Inc. lifted its stake in shares of Popular by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,286,832 shares of the bank's stock worth $873,519,000 after purchasing an additional 56,222 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Popular by 5.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock worth $394,373,000 after purchasing an additional 201,067 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Popular by 1.3% during the 4th quarter. Wellington Management Group LLP now owns 1,908,406 shares of the bank's stock worth $179,505,000 after purchasing an additional 25,222 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Popular by 57.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank's stock worth $133,446,000 after purchasing an additional 515,798 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Popular by 3.0% during the 4th quarter. American Century Companies Inc. now owns 1,362,875 shares of the bank's stock worth $128,192,000 after purchasing an additional 39,999 shares during the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BPOP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Barclays reiterated an "overweight" rating and issued a $125.00 price target (up from $115.00) on shares of Popular in a research note on Thursday, April 24th. Piper Sandler increased their price target on Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday. StockNews.com cut Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Hovde Group decreased their price target on Popular from $118.00 to $114.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $114.43.

Popular Trading Down 0.3%

Shares of BPOP stock traded down $0.27 during mid-day trading on Friday, reaching $104.52. The stock had a trading volume of 464,570 shares, compared to its average volume of 499,131. The business's fifty day moving average is $91.96 and its 200-day moving average is $95.67. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 12.21, a PEG 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 announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, beating analysts' consensus estimates of $2.26 by $0.30. The business had revenue of $755.46 million for the quarter, compared to analyst estimates of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. The company's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 earnings per share. On average, analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Thursday, May 29th. Popular's dividend payout ratio is presently 28.90%.

Insider Buying and Selling

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total transaction of $52,215.00. Following the transaction, the vice president now owns 3,604 shares in the company, valued at approximately $376,365.72. This represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.23% of the stock is owned by corporate insiders.

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.