Popular, Inc. (NASDAQ:BPOP) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 971,290 shares of the bank's stock after selling 83,559 shares during the period. Principal Financial Group Inc. owned approximately 1.36% of Popular worth $91,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Popular by 279.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 38,798 shares of the bank's stock worth $3,890,000 after purchasing an additional 28,574 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Popular by 8.4% during the third quarter. Sequoia Financial Advisors LLC now owns 5,298 shares of the bank's stock worth $534,000 after purchasing an additional 410 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Popular during the third quarter worth $1,468,000. Assenagon Asset Management S.A. grew its stake in shares of Popular by 171.3% in the third quarter. Assenagon Asset Management S.A. now owns 78,441 shares of the bank's stock valued at $7,865,000 after buying an additional 49,533 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Popular by 28.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,918 shares of the bank's stock valued at $493,000 after buying an additional 1,103 shares during the period. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Popular

In other Popular 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 completion of the transaction, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eduardo J. Negron sold 10,000 shares of the firm's stock in a transaction on 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 completion of 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 position. The disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BPOP. StockNews.com upgraded Popular from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods upped 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. Wells Fargo & Company raised 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. Piper Sandler decreased their target price on Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price target on shares of Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Popular presently has a consensus rating of "Moderate Buy" and an average price target of $112.25.

Popular Price Performance

Shares of NASDAQ:BPOP traded down $3.27 on Friday, reaching $100.69. The company's stock had a trading volume of 583,536 shares, compared to its average volume of 463,066. Popular, Inc. has a 52-week low of $80.60 and a 52-week high of $106.81. The stock has a market capitalization of $7.18 billion, a P/E ratio of 11.76, a PEG ratio of 0.76 and a beta of 0.82. The stock's 50-day moving average is $98.51 and its two-hundred day moving average is $97.73.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results 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 analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

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.