Russell Investments Group Ltd. Has $23.31 Million Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Russell Investments Group Ltd. raised its position in shares of Popular, Inc. (NASDAQ:BPOP) by 27.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,987 shares of the bank’s stock after purchasing an additional 61,750 shares during the period. Russell Investments Group Ltd. owned approximately 0.39% of Popular worth $23,307,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BPOP. GAMMA Investing LLC acquired a new position in shares of Popular during the 4th quarter worth $90,000. Knights of Columbus Asset Advisors LLC raised its stake in Popular by 94.6% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 69,907 shares of the bank’s stock worth $5,737,000 after acquiring an additional 33,978 shares in the last quarter. Xponance Inc. bought a new position in shares of Popular in the fourth quarter worth about $206,000. AIA Group Ltd lifted its holdings in shares of Popular by 8.3% in the fourth quarter. AIA Group Ltd now owns 13,799 shares of the bank’s stock worth $1,132,000 after acquiring an additional 1,054 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Popular by 2.5% in the 4th quarter. Federated Hermes Inc. now owns 228,832 shares of the bank’s stock valued at $18,780,000 after purchasing an additional 5,581 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Popular from $99.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Royal Bank of Canada increased their price target on Popular from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Piper Sandler boosted their price objective on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Citigroup upped their target price on Popular from $103.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, Wells Fargo & Company lifted their price target on Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.89.

Insider Transactions at Popular

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. In other Popular news, EVP Luis E. Cestero sold 599 shares of the company’s 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 sale, 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 accessible through this hyperlink. Also, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the completion of the transaction, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at $2,260,092.24. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

Popular Price Performance

Shares of BPOP opened at $86.90 on Thursday. The business has a 50-day moving average of $84.69 and a 200-day moving average of $79.63. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 12.89 and a beta of 0.82. Popular, Inc. has a 1 year low of $52.32 and a 1 year high of $89.70.

Popular Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 14th were given a $0.62 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.85%. Popular’s dividend payout ratio (DPR) is currently 36.80%.

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.