Popular, Inc. (NASDAQ:BPOP) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lowered its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 43.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,768 shares of the bank's stock after selling 58,415 shares during the quarter. Jane Street Group LLC owned 0.10% of Popular worth $7,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in shares of Popular by 52.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank's stock worth $73,867,000 after buying an additional 286,450 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Popular by 235.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 332,093 shares of the bank's stock worth $33,299,000 after acquiring an additional 233,119 shares during the period. AQR Capital Management LLC grew its position in Popular by 23.6% in the second quarter. AQR Capital Management LLC now owns 859,794 shares of the bank's stock valued at $75,129,000 after acquiring an additional 164,270 shares in the last quarter. American Century Companies Inc. grew its position in Popular by 10.3% in the second quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank's stock valued at $107,781,000 after acquiring an additional 113,838 shares in the last quarter. Finally, Soros Fund Management LLC purchased a new stake in shares of Popular during the third quarter valued at approximately $9,115,000. Hedge funds and other institutional investors own 87.27% of the company's stock.

Popular Trading Down 0.9 %

Popular stock traded down $0.90 during midday trading on Friday, hitting $95.65. The stock had a trading volume of 394,822 shares, compared to its average volume of 429,099. The business has a fifty day moving average price of $96.63 and a 200 day moving average price of $95.13. Popular, Inc. has a 12 month low of $79.01 and a 12 month high of $105.01. The stock has a market cap of $6.82 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.76 and a beta of 0.81.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing analysts' consensus estimates of $2.33 by ($0.17). Popular had a net margin of 12.36% and a return on equity of 11.35%. The firm had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same quarter last year, the firm posted $1.90 earnings per share. Popular's revenue was up 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.93%. This is a boost from Popular's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, December 6th. Popular's dividend payout ratio is 38.04%.

Insider Transactions at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the sale, the vice president now directly owns 3,332 shares of the company's stock, valued at $325,569.72. This trade represents a 35.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total transaction of $347,060.00. Following the transaction, the executive vice president now directly owns 25,115 shares of the company's stock, valued at approximately $2,490,403.40. This trade represents a 12.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company's stock.

Analysts Set New Price Targets

BPOP has been the subject of a number of recent analyst reports. Piper Sandler lowered their price target on shares of Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Keefe, Bruyette & Woods upped their price objective on shares of Popular from $103.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Royal Bank of Canada dropped their target price on Popular from $108.00 to $96.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price target on Popular from $90.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 3rd. Finally, Barclays raised their price objective on Popular from $104.00 to $110.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.00.

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.