Wellington Management Group LLP Increases Stock Position in Popular, Inc. (NASDAQ:BPOP)

Wellington Management Group LLP boosted its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,908,406 shares of the bank's stock after purchasing an additional 25,222 shares during the period. Wellington Management Group LLP owned approximately 2.74% of Popular worth $179,505,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. TCW Group Inc. lifted its stake in shares of Popular by 15.2% in the 3rd quarter. TCW Group Inc. now owns 94,815 shares of the bank's stock valued at $9,507,000 after acquiring an additional 12,494 shares during the last quarter. Principal Financial Group Inc. increased its stake in Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock worth $105,769,000 after purchasing an additional 71,782 shares during the period. Cerity Partners LLC lifted its position in Popular by 83.9% in the third quarter. Cerity Partners LLC now owns 9,546 shares of the bank's stock valued at $957,000 after purchasing an additional 4,354 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Popular by 56.6% during 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 period. Finally, KBC Group NV grew its holdings in shares of Popular by 1,719.6% in the fourth quarter. KBC Group NV now owns 37,775 shares of the bank's stock worth $3,553,000 after purchasing an additional 35,699 shares during the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Stock Performance

Shares of NASDAQ BPOP traded down $0.66 during midday trading on Monday, hitting $81.84. 1,356,895 shares of the company traded hands, compared to its average volume of 465,489. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $106.81. The stock has a 50-day moving average price of $96.34 and a 200 day moving average price of $96.47. The firm has a market cap of $5.67 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.75 and a beta of 0.62.

Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (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 expect that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Tuesday, March 18th. Popular's dividend payout ratio is currently 32.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price objective on shares of Popular from $105.00 to $110.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Barclays raised their target price on Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. UBS Group assumed coverage on Popular in a report on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price target on the stock. Finally, StockNews.com upgraded Popular from a "hold" rating to a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Popular currently has an average rating of "Moderate Buy" and an average target price of $113.00.

Insider Activity

In related news, EVP Eduardo J. Negron sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The stock was 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. This trade represents a 23.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction on Thursday, February 6th. The shares were 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. The trade was a 19.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.

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.