Principal Financial Group Inc. grew its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 7.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,054,849 shares of the bank's stock after purchasing an additional 71,782 shares during the quarter. Principal Financial Group Inc. owned 1.46% of Popular worth $105,769,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in shares of Popular by 3.6% during the first quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank's stock worth $25,924,000 after purchasing an additional 10,308 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Popular by 2.2% in the first quarter. Sei Investments Co. now owns 282,639 shares of the bank's stock worth $24,898,000 after acquiring an additional 6,067 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Popular by 249.1% in the second quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank's stock worth $2,904,000 after acquiring an additional 23,436 shares in the last quarter. Algert Global LLC lifted its stake in shares of Popular by 10.4% in the second quarter. Algert Global LLC now owns 88,379 shares of the bank's stock worth $7,815,000 after acquiring an additional 8,317 shares in the last quarter. Finally, TCW Group Inc. lifted its stake in shares of Popular by 70.7% in the second quarter. TCW Group Inc. now owns 82,321 shares of the bank's stock worth $7,280,000 after acquiring an additional 34,107 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company's stock.
Insider Buying and Selling
In related news, EVP Camille Burckhart sold 5,917 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the transaction, the executive vice president now directly owns 29,922 shares of the company's stock, valued at $2,920,387.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the sale, the executive vice president now directly owns 25,115 shares in the company, valued at $2,490,403.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Camille Burckhart sold 5,917 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the sale, the executive vice president now owns 29,922 shares of the company's stock, valued at $2,920,387.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,242 shares of company stock valued at $1,102,880 in the last three months. 2.09% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
BPOP has been the topic of several recent analyst reports. Royal Bank of Canada cut their price target on Popular from $108.00 to $96.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Hovde Group boosted their price target on Popular from $113.00 to $123.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $120.00 price target (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Piper Sandler cut their price target on Popular from $112.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company lowered their price objective on Popular from $105.00 to $98.00 and set an "equal weight" rating for the company in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $104.88.
Check Out Our Latest Stock Report on BPOP
Popular Stock Down 1.7 %
Shares of NASDAQ:BPOP traded down $1.61 during trading on Friday, hitting $94.33. 661,730 shares of the company traded hands, compared to its average volume of 628,211. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.78 and a beta of 0.79. The business's fifty day moving average is $96.78 and its 200-day moving average is $93.70. Popular, Inc. has a one year low of $66.72 and a one year high of $105.01.
Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.17). The company had revenue of $736.56 million for the quarter, compared to the consensus estimate of $766.62 million. Popular had a net margin of 12.36% and a return on equity of 11.65%. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $1.90 earnings per share. On average, analysts forecast that Popular, Inc. will post 8.46 EPS for the current year.
Popular Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Friday, September 13th. Popular's dividend payout ratio (DPR) is 33.70%.
Popular Profile
(
Free Report)
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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