American Century Companies Inc. Boosts Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

American Century Companies Inc. increased its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,362,875 shares of the bank's stock after buying an additional 39,999 shares during the period. American Century Companies Inc. owned about 1.91% of Popular worth $128,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its position in Popular by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock worth $211,000 after purchasing an additional 112 shares during the last quarter. Picton Mahoney Asset Management increased its position in Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock valued at $31,000 after buying an additional 118 shares in the last quarter. Arizona State Retirement System raised its position in shares of Popular by 0.7% during the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock worth $1,971,000 after purchasing an additional 143 shares during the period. Pathstone Holdings LLC lifted its position in Popular by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank's stock valued at $1,974,000 after acquiring an additional 148 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Popular by 0.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank's stock valued at $2,888,000 after acquiring an additional 214 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BPOP. StockNews.com upgraded shares of Popular from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Barclays increased their price objective on Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. UBS Group assumed coverage on shares of Popular in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price target for the company. Wells Fargo & Company boosted their target price on shares of Popular from $105.00 to $110.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price target on Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $113.00.

Popular Price Performance

BPOP stock traded down $0.34 during trading on Thursday, hitting $93.20. The stock had a trading volume of 396,655 shares, compared to its average volume of 438,190. Popular, Inc. has a twelve month low of $80.60 and a twelve month high of $106.81. The stock has a market capitalization of $6.49 billion, a P/E ratio of 10.89, a PEG ratio of 0.75 and a beta of 0.77. The company's 50-day moving average price is $98.25 and its two-hundred day moving average price is $97.02.

Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. As a group, sell-side analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. Popular's payout ratio is currently 32.71%.

Insider Transactions at Popular

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the transaction, the executive vice president now directly owns 32,866 shares in the company, valued at approximately $3,418,721.32. This trade represents a 23.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the transaction, the executive vice president now directly owns 39,170 shares in the company, valued at $4,017,666.90. This represents a 19.68 % 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 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.