Secured Retirement Advisors LLC Makes New Investment in Popular, Inc. (NASDAQ:BPOP)

Secured Retirement Advisors LLC purchased a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,184 shares of the bank's stock, valued at approximately $1,428,000.

Several other hedge funds also recently modified their holdings of BPOP. State Street Corp lifted its stake in Popular by 0.5% during the third quarter. State Street Corp now owns 2,056,377 shares of the bank's stock worth $207,475,000 after purchasing an additional 10,599 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Popular by 7.3% during the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock valued at $105,769,000 after acquiring an additional 71,782 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Popular by 8.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 902,931 shares of the bank's stock valued at $90,537,000 after purchasing an additional 67,620 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Popular by 3.7% in the 3rd quarter. Verition Fund Management LLC now owns 629,537 shares of the bank's stock worth $63,124,000 after purchasing an additional 22,355 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Popular by 18.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 548,057 shares of the bank's stock worth $54,954,000 after purchasing an additional 84,839 shares in the last quarter. 87.27% of the stock is owned by institutional investors.

Popular Stock Down 0.9 %

Shares of NASDAQ:BPOP traded down $1.01 during midday trading on Wednesday, hitting $105.32. The stock had a trading volume of 428,394 shares, compared to its average volume of 459,547. The business's 50-day simple moving average is $98.36 and its 200-day simple moving average is $97.68. Popular, Inc. has a 12 month low of $80.60 and a 12 month high of $106.81. The company has a market cap of $7.51 billion, a P/E ratio of 12.30, a PEG ratio of 0.75 and a beta of 0.82.

Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, topping 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%. As a group, equities analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Insider Transactions at Popular

In related news, EVP Gilberto Monzon sold 9,600 shares of the company's stock in a transaction dated 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 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 document filed with the SEC, which is available through the SEC website. Also, EVP Eduardo J. Negron sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares of the company's stock, valued at $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.13% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BPOP. Wells Fargo & Company raised their price target on Popular from $105.00 to $110.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Royal Bank of Canada lifted their price target on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. StockNews.com raised shares of Popular from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. UBS Group began coverage on shares of Popular in a report on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price target for the company. Finally, Keefe, Bruyette & Woods boosted their price objective on Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Popular presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.25.

About Popular

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.