Minneapolis Portfolio Management Group LLC Has $36.43 Million Position in Popular, Inc. (NASDAQ:BPOP)

Minneapolis Portfolio Management Group LLC lessened its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 387,267 shares of the bank's stock after selling 3,401 shares during the period. Popular comprises 4.8% of Minneapolis Portfolio Management Group LLC's portfolio, making the stock its 2nd biggest holding. Minneapolis Portfolio Management Group LLC owned approximately 0.54% of Popular worth $36,426,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in BPOP. Pathstone Holdings LLC boosted its stake in Popular by 0.8% during the third quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank's stock worth $1,974,000 after buying an additional 148 shares in the last quarter. Caprock Group LLC acquired a new position in Popular in the third quarter worth about $208,000. Massachusetts Financial Services Co. MA lifted 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 purchasing an additional 67,620 shares during the period. Cerity Partners LLC boosted its holdings in Popular by 83.9% during the third quarter. Cerity Partners LLC now owns 9,546 shares of the bank's stock valued at $957,000 after purchasing an additional 4,354 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Popular in the 3rd quarter valued at approximately $2,337,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Performance

BPOP traded down $1.68 during midday trading on Friday, hitting $91.52. The company had a trading volume of 385,249 shares, compared to its average volume of 453,153. Popular, Inc. has a twelve month low of $80.60 and a twelve month high of $106.81. The company has a market capitalization of $6.37 billion, a PE ratio of 10.69, a P/E/G ratio of 0.75 and a beta of 0.77. The firm's 50-day simple moving average is $97.98 and its 200-day simple moving average is $96.95.

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Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly 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 net margin of 14.15% and a return on equity of 11.89%. As a group, sell-side analysts anticipate 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. Stockholders of record on Tuesday, March 18th will be given 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 3.06%. Popular's payout ratio is currently 32.71%.

Insider Activity

In other news, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction that occurred 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 sale, the executive vice president now owns 39,170 shares in the company, valued at $4,017,666.90. The trade was a 19.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Eduardo J. Negron sold 10,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 32,866 shares of the company's stock, valued at approximately $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

BPOP has been the subject of several analyst reports. UBS Group initiated coverage on Popular in a research report on Tuesday, December 17th. They set a "neutral" rating and a $104.00 target price for the company. Barclays boosted their target price on shares of Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Keefe, Bruyette & Woods increased their target price on shares of Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Popular from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Royal Bank of Canada upped 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $113.00.

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.