AIA Group Ltd Has $1.13 Million Holdings in Popular, Inc. (NASDAQ:BPOP)

AIA Group Ltd grew its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,799 shares of the bank’s stock after purchasing an additional 1,054 shares during the period. AIA Group Ltd’s holdings in Popular were worth $1,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Federated Hermes Inc. grew its position in shares of Popular by 2.5% during the 4th quarter. Federated Hermes Inc. now owns 228,832 shares of the bank’s stock worth $18,780,000 after purchasing an additional 5,581 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Popular by 10.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,454 shares of the bank’s stock worth $1,268,000 after acquiring an additional 1,504 shares in the last quarter. Strs Ohio acquired a new stake in shares of Popular during the 4th quarter worth approximately $1,636,000. Sequoia Financial Advisors LLC boosted its position in shares of Popular by 198.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 14,697 shares of the bank’s stock worth $1,209,000 after acquiring an additional 9,776 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Popular during the 4th quarter worth approximately $2,330,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insider Activity

In other news, EVP Luis E. Cestero sold 4,641 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the transaction, the executive vice president now owns 26,772 shares of the company’s stock, valued at $2,260,092.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Luis E. Cestero sold 599 shares of Popular stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total transaction of $51,304.35. Following the completion of the transaction, the executive vice president now owns 26,529 shares of the company’s stock, valued at $2,272,208.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the transaction, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Analyst Upgrades and Downgrades

BPOP has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Popular from $95.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Piper Sandler increased their price target on shares of Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. UBS Group increased their price target on shares of Popular from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. StockNews.com raised shares of Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Citigroup increased their price objective on shares of Popular from $103.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.63.

Popular Stock Performance

BPOP stock opened at $83.20 on Friday. The company has a fifty day moving average price of $84.34 and a 200-day moving average price of $78.21. The company has a market capitalization of $6.01 billion, a P/E ratio of 11.05 and a beta of 0.82. Popular, Inc. has a 52-week low of $52.32 and a 52-week high of $89.70.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Thursday, January 25th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.89. The firm had revenue of $702.92 million during the quarter, compared to the consensus estimate of $699.76 million. Popular had a net margin of 13.86% and a return on equity of 12.63%. As a group, sell-side analysts forecast that Popular, Inc. will post 8.52 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 14th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Wednesday, March 13th. Popular’s payout ratio is currently 32.93%.

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.