Wellington Management Group LLP Sells 306,193 Shares of Popular, Inc. (NASDAQ:BPOP)

Wellington Management Group LLP reduced its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 14.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,883,184 shares of the bank's stock after selling 306,193 shares during the period. Wellington Management Group LLP owned approximately 2.60% of Popular worth $188,827,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Popular by 0.5% in the third quarter. State Street Corp now owns 2,056,377 shares of the bank's stock worth $207,475,000 after acquiring an additional 10,599 shares during the period. American Century Companies Inc. boosted its holdings in shares of Popular by 10.3% in the second quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank's stock worth $107,781,000 after acquiring an additional 113,838 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Popular by 7.3% in the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock worth $105,769,000 after acquiring an additional 71,782 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Popular by 8.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 902,931 shares of the bank's stock worth $90,537,000 after acquiring an additional 67,620 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Popular by 23.6% in the second quarter. AQR Capital Management LLC now owns 859,794 shares of the bank's stock worth $75,129,000 after acquiring an additional 164,270 shares during the period. 87.27% of the stock is owned by institutional investors.

Popular Price Performance

NASDAQ BPOP traded down $0.04 during trading hours on Monday, reaching $99.11. 536,712 shares of the stock traded hands, compared to its average volume of 427,843. The stock has a 50 day simple moving average of $96.52 and a two-hundred day simple moving average of $94.97. Popular, Inc. has a 1 year low of $75.63 and a 1 year high of $105.01. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 0.78 and a beta of 0.81.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $766.62 million. Popular had a return on equity of 11.35% and a net margin of 12.36%. The firm's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 EPS. On average, sell-side analysts forecast that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.80 annualized dividend and a dividend yield of 2.83%. This is an increase from Popular's previous quarterly dividend of $0.62. Popular's payout ratio is currently 38.04%.

Insider Transactions at Popular

In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the sale, the executive vice president now directly owns 25,115 shares of the company's stock, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the sale, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. The trade was a 35.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada dropped their price objective on Popular from $108.00 to $96.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price objective on Popular from $103.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Piper Sandler dropped their price objective on Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Barclays lifted their price objective on Popular from $104.00 to $110.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their price objective on Popular from $90.00 to $105.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.00.

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.