Popular, Inc. (NASDAQ:BPOP) Stake Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 27.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,987 shares of the bank's stock after buying an additional 61,750 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.39% of Popular worth $23,307,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Treasurer of the State of North Carolina lifted its holdings in Popular by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 30,898 shares of the bank's stock worth $1,947,000 after buying an additional 150 shares during the period. Arizona State Retirement System grew its stake in Popular by 1.4% in the third quarter. Arizona State Retirement System now owns 20,493 shares of the bank's stock valued at $1,291,000 after purchasing an additional 277 shares during the last quarter. Rock Point Advisors LLC raised its holdings in Popular by 1.1% in the third quarter. Rock Point Advisors LLC now owns 31,792 shares of the bank's stock worth $2,003,000 after purchasing an additional 345 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Popular by 0.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,543 shares of the bank's stock valued at $7,091,000 after buying an additional 367 shares during the last quarter. Finally, Inspire Advisors LLC boosted its holdings in shares of Popular by 3.7% in the 3rd quarter. Inspire Advisors LLC now owns 12,971 shares of the bank's stock valued at $817,000 after buying an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company's stock.

Insider Activity

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of the company's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the sale, the executive vice president now owns 26,772 shares in the company, valued at approximately $2,260,092.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Popular news, EVP Luis E. Cestero sold 4,641 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the completion of the transaction, the executive vice president now owns 26,772 shares in the company, valued at $2,260,092.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Luis E. Cestero sold 599 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the transaction, the executive vice president now owns 26,529 shares in the company, valued at approximately $2,272,208.85. The disclosure for this sale can be found here. Insiders own 2.09% of the company's stock.

Popular Trading Up 1.3 %

NASDAQ BPOP traded up $1.15 on Thursday, hitting $88.05. 213,968 shares of the company's stock traded hands, compared to its average volume of 440,291. The firm has a market capitalization of $6.37 billion, a PE ratio of 13.06, a P/E/G ratio of 0.80 and a beta of 0.81. The firm's 50-day moving average price is $84.78 and its two-hundred day moving average price is $79.68. Popular, Inc. has a 1-year low of $52.32 and a 1-year high of $89.70.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were paid a dividend of $0.62 per share. The ex-dividend date was Wednesday, March 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.82%. Popular's payout ratio is currently 36.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BPOP shares. Barclays increased their target price on shares of Popular from $99.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, April 25th. Piper Sandler boosted their target price on Popular from $96.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 9th. UBS Group raised their price target on Popular from $84.00 to $91.00 and gave the stock a "neutral" rating in a report on Friday, January 26th. StockNews.com upgraded shares of Popular from a "sell" rating to a "hold" rating in a report on Wednesday, April 3rd. Finally, Hovde Group lifted their target price on shares of Popular from $112.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Popular currently has an average rating of "Moderate Buy" and an average price target of $99.89.

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.