Popular, Inc. (NASDAQ:BPOP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in Popular, Inc. (NASDAQ:BPOP) by 44.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,633 shares of the bank’s stock after selling 17,165 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Popular were worth $2,006,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BPOP. Los Angeles Capital Management LLC raised its holdings in Popular by 235.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 332,093 shares of the bank’s stock worth $33,299,000 after purchasing an additional 233,119 shares during the period. Soros Fund Management LLC acquired a new position in Popular in the 3rd quarter worth about $9,115,000. Jacobs Levy Equity Management Inc. raised its holdings in Popular by 18.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 548,057 shares of the bank’s stock worth $54,954,000 after purchasing an additional 84,839 shares during the period. Point72 Asset Management L.P. acquired a new position in Popular in the 3rd quarter worth about $8,385,000. Finally, Franklin Resources Inc. raised its holdings in shares of Popular by 304.3% during the third quarter. Franklin Resources Inc. now owns 99,861 shares of the bank’s stock valued at $10,042,000 after acquiring an additional 75,164 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insider Activity at Popular

In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the firm’s stock in a transaction on 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 directly owns 39,170 shares in the company, valued at $4,017,666.90. This trade represents a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were 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 owns 32,866 shares in the company, valued at approximately $3,418,721.32. This represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

Popular Stock Performance

Shares of Popular stock opened at $100.69 on Friday. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.76 and a beta of 0.82. Popular, Inc. has a fifty-two week low of $80.60 and a fifty-two week high of $106.81. The stock has a 50 day moving average of $98.51 and a 200 day moving average of $97.73.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, topping 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%. Analysts forecast that Popular, Inc. will post 10.06 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on BPOP. Royal Bank of Canada increased their target price on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Barclays increased their target price on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Keefe, Bruyette & Woods increased their target price on Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. StockNews.com raised Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their target price on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $112.25.

About Popular

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.