Popular, Inc. (NASDAQ:BPOP) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 8.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,870 shares of the bank's stock after selling 12,195 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Popular worth $13,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BPOP. Proficio Capital Partners LLC bought a new position in shares of Popular during the 4th quarter valued at approximately $27,000. Picton Mahoney Asset Management raised its holdings in Popular by 56.7% during 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 during the period. Smartleaf Asset Management LLC raised its holdings in Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after buying an additional 218 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Popular during the 3rd quarter valued at $81,000. Finally, R Squared Ltd purchased a new stake in Popular during the 4th quarter valued at $166,000. 87.27% of the stock is currently owned by institutional investors.

Insider Transactions at Popular

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of the business's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the transaction, the executive vice president now owns 32,866 shares of the company's stock, valued at approximately $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gilberto Monzon sold 9,600 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the transaction, the executive vice president now directly owns 39,170 shares in the company, valued at $4,017,666.90. This trade represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.23% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BPOP shares. Barclays increased their target price on Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. Wells Fargo & Company upgraded Popular from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $110.00 to $100.00 in a research note on Wednesday. Royal Bank of Canada raised their price target on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price target on Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, UBS Group initiated coverage on Popular in a report on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price target for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $111.57.

Popular Price Performance

BPOP stock traded down $4.22 during trading on Thursday, hitting $82.69. 96,485 shares of the company traded hands, compared to its average volume of 468,070. The stock's 50-day simple moving average is $94.83 and its 200 day simple moving average is $96.08. The company has a market cap of $5.73 billion, a PE ratio of 9.71, a P/E/G ratio of 0.75 and a beta of 0.62. 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 posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. Research analysts expect that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Tuesday, March 18th. Popular's dividend payout ratio is presently 32.71%.

About Popular

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.