Popular, Inc. (NASDAQ:BPOP) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in shares of Popular, Inc. (NASDAQ:BPOP) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,844 shares of the bank’s stock after selling 7,082 shares during the period. Envestnet Asset Management Inc.’s holdings in Popular were worth $7,416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp grew its holdings in Popular by 4.3% in the 3rd quarter. Stifel Financial Corp now owns 14,167 shares of the bank’s stock worth $1,421,000 after buying an additional 583 shares in the last quarter. MML Investors Services LLC bought a new position in shares of Popular in the third quarter worth $216,000. Barclays PLC increased its holdings in shares of Popular by 8.5% during the third quarter. Barclays PLC now owns 60,099 shares of the bank’s stock valued at $6,024,000 after purchasing an additional 4,699 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Popular during the third quarter valued at about $81,000. Finally, Tidal Investments LLC bought a new stake in shares of Popular during the 3rd quarter worth about $1,635,000. Institutional investors own 87.27% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Eduardo J. Negron sold 10,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the completion of the sale, the executive vice president now directly owns 32,866 shares of the company’s stock, valued at approximately $3,418,721.32. This represents a 23.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction dated 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 directly owns 39,170 shares in the company, valued at approximately $4,017,666.90. This trade represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BPOP. Keefe, Bruyette & Woods raised their price objective on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upgraded Popular from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $110.00 to $100.00 in a research report on Wednesday, April 9th. StockNews.com upgraded Popular from a “hold” rating to a “buy” rating in a report on Saturday, April 12th. Finally, Royal Bank of Canada lifted their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Popular presently has an average rating of “Moderate Buy” and a consensus target price of $111.57.

Popular Stock Up 2.3 %

Shares of NASDAQ BPOP opened at $85.81 on Monday. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $106.81. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 0.75 and a beta of 0.62. The stock’s fifty day simple moving average is $92.28 and its 200 day simple moving average is $95.39.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Tuesday, March 18th. Popular’s dividend payout ratio is 32.71%.

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.