Arrowstreet Capital Limited Partnership Lowers Stock Position in Popular, Inc. (NASDAQ:BPOP)

Arrowstreet Capital Limited Partnership reduced its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 52.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 273,699 shares of the bank's stock after selling 301,994 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.38% of Popular worth $25,744,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its holdings in shares of Popular by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock valued at $211,000 after purchasing an additional 112 shares during the period. Picton Mahoney Asset Management raised its holdings in shares of Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after purchasing an additional 118 shares during the last quarter. Arizona State Retirement System lifted its position in Popular by 0.7% during the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock valued at $1,971,000 after purchasing an additional 143 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Popular by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank's stock valued at $2,888,000 after purchasing an additional 214 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after purchasing an additional 218 shares during the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Stock Down 0.3 %

Popular stock traded down $0.21 during mid-day trading on Tuesday, reaching $81.63. 535,175 shares of the company's stock were exchanged, compared to its average volume of 466,307. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $106.81. The company has a market cap of $5.66 billion, a P/E ratio of 9.54, a P/E/G ratio of 0.75 and a beta of 0.62. The company has a fifty day moving average of $95.48 and a 200-day moving average of $96.24.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. Equities research analysts expect that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Tuesday, March 18th. Popular's payout ratio is presently 32.71%.

Insider Transactions at Popular

In related news, EVP Gilberto Monzon sold 9,600 shares of the 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 owns 39,170 shares of the company's stock, valued at $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction dated 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 sale, the executive vice president now directly owns 32,866 shares of the company's stock, valued at $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. Corporate insiders own 2.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. UBS Group started coverage on Popular in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price objective on the stock. Barclays increased their price target on shares of Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Wells Fargo & Company lifted their price objective 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. 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 note on Wednesday, January 29th. Finally, Royal Bank of Canada raised their target price on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Popular currently has an average rating of "Moderate Buy" and a consensus price target of $113.00.

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.