Minneapolis Portfolio Management Group LLC Sells 3,401 Shares of Popular, Inc. (NASDAQ:BPOP)

Minneapolis Portfolio Management Group LLC decreased its position in shares of Popular, Inc. (NASDAQ:BPOP) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 387,267 shares of the bank’s stock after selling 3,401 shares during the period. Popular accounts for approximately 4.8% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 2nd biggest holding. Minneapolis Portfolio Management Group LLC owned about 0.54% of Popular worth $36,426,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of Popular in the fourth quarter valued at approximately $27,000. Picton Mahoney Asset Management increased its holdings in shares of Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after purchasing an additional 118 shares during the period. Brooklyn Investment Group acquired a new position in shares of Popular in the third quarter valued at approximately $47,000. Smartleaf Asset Management LLC increased its holdings in shares of Popular by 56.6% in 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, Wilmington Savings Fund Society FSB acquired a new position in shares of Popular in the third quarter valued at approximately $81,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. UBS Group started coverage on Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price on the stock. Barclays boosted their target price on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, StockNews.com raised Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.00.

Popular Stock Up 1.3 %

NASDAQ BPOP opened at $91.37 on Monday. Popular, Inc. has a fifty-two week low of $80.60 and a fifty-two week high of $106.81. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77. The business has a fifty day moving average of $98.48 and a 200-day moving average of $97.11.

Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, beating 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, analysts anticipate that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.80 annualized dividend and a yield of 3.06%. Popular’s payout ratio is currently 32.71%.

Insider Activity at Popular

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 32,866 shares in the company, valued at $3,418,721.32. This represents a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the sale, the executive vice president now owns 39,170 shares of the company’s stock, valued at $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.