Edgestream Partners L.P. Sells 58,303 Shares of Popular, Inc. (NASDAQ:BPOP)

Edgestream Partners L.P. lessened its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 86.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,776 shares of the bank's stock after selling 58,303 shares during the period. Edgestream Partners L.P.'s holdings in Popular were worth $825,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BPOP. State Street Corp lifted its position in Popular by 0.5% during the third quarter. State Street Corp now owns 2,056,377 shares of the bank's stock valued at $207,475,000 after purchasing an additional 10,599 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock valued at $105,769,000 after acquiring an additional 71,782 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Popular by 8.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 902,931 shares of the bank's stock worth $90,537,000 after acquiring an additional 67,620 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Popular by 15.4% during the fourth quarter. Bank of New York Mellon Corp now owns 697,389 shares of the bank's stock worth $65,596,000 after acquiring an additional 93,262 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in shares of Popular by 3.7% in the 3rd quarter. Verition Fund Management LLC now owns 629,537 shares of the bank's stock valued at $63,124,000 after purchasing an additional 22,355 shares during the last quarter. Institutional investors own 87.27% of the company's stock.

Popular Stock Performance

Popular stock opened at $87.42 on Wednesday. Popular, Inc. has a fifty-two week low of $80.60 and a fifty-two week high of $106.81. The company has a market capitalization of $6.23 billion, a PE ratio of 10.21, a P/E/G ratio of 0.75 and a beta of 0.77. The company has a 50 day moving average price of $99.17 and a 200-day moving average price of $97.74.

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Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share 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%. On average, analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.80 annualized dividend and a yield of 3.20%. Popular's dividend payout ratio (DPR) is presently 32.71%.

Analysts Set New Price Targets

BPOP has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their target price on Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. UBS Group assumed coverage on shares of Popular in a research report on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price objective on the stock. StockNews.com upgraded shares of Popular from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Royal Bank of Canada raised their price objective on shares of Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Finally, Barclays raised their price objective on shares of Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $112.25.

Insider Transactions at Popular

In other news, EVP Eduardo J. Negron sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $104.02, for a total value of $1,040,200.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of the company'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 approximately $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.

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