Advisors Asset Management Inc. Has $163,000 Holdings in Popular, Inc. (NASDAQ:BPOP)

Advisors Asset Management Inc. trimmed its position in shares of Popular, Inc. (NASDAQ:BPOP) by 30.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,623 shares of the bank’s stock after selling 714 shares during the period. Advisors Asset Management Inc.’s holdings in Popular were worth $163,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings in shares of Popular by 421.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 2,852 shares of the bank’s stock worth $286,000 after acquiring an additional 2,305 shares during the period. Caprock Group LLC acquired a new position in Popular during the third quarter valued at approximately $208,000. Pathstone Holdings LLC lifted its stake in Popular by 0.8% during the third quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock worth $1,974,000 after purchasing an additional 148 shares during the last quarter. Baron Wealth Management LLC acquired a new stake in shares of Popular in the 3rd quarter valued at $227,000. Finally, LMR Partners LLP acquired a new stake in shares of Popular in the 3rd quarter valued at $443,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. The trade was a 12.23 % 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, VP Adorno Denissa Rodriguez sold 1,825 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total transaction of $178,320.75. Following the sale, the vice president now directly owns 3,332 shares in the company, valued at $325,569.72. This trade represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Popular Price Performance

NASDAQ:BPOP opened at $99.36 on Friday. Popular, Inc. has a one year low of $72.80 and a one year high of $105.01. The company has a market cap of $7.09 billion, a PE ratio of 13.50, a P/E/G ratio of 0.78 and a beta of 0.79. The firm’s 50 day simple moving average is $96.55 and its 200 day simple moving average is $94.66.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.17). The business had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. Popular had a return on equity of 11.35% and a net margin of 12.36%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 EPS. Equities research analysts expect that Popular, Inc. will post 8.46 EPS for the current year.

Popular Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, December 6th. This is a positive change from Popular’s previous quarterly dividend of $0.62. Popular’s payout ratio is 33.70%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BPOP. Royal Bank of Canada lowered their price target on Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Barclays lowered their target price on Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company reduced their price target on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, Piper Sandler lowered their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Popular currently has a consensus rating of “Moderate Buy” and an average target price of $104.88.

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.