Minneapolis Portfolio Management Group LLC Has $38.96 Million Stock Holdings in Popular, Inc. $BPOP

Minneapolis Portfolio Management Group LLC decreased its holdings in Popular, Inc. (NASDAQ:BPOP) by 18.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 306,724 shares of the bank’s stock after selling 67,592 shares during the period. Popular comprises approximately 4.5% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 5th biggest holding. Minneapolis Portfolio Management Group LLC’s holdings in Popular were worth $38,957,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BPOP. Norges Bank acquired a new position in Popular during the second quarter valued at $93,578,000. AQR Capital Management LLC boosted its stake in Popular by 32.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,897,419 shares of the bank’s stock worth $209,115,000 after purchasing an additional 464,820 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in Popular by 9,769.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 268,448 shares of the bank’s stock worth $29,586,000 after purchasing an additional 265,728 shares in the last quarter. SG Americas Securities LLC boosted its stake in Popular by 363.4% during the second quarter. SG Americas Securities LLC now owns 228,028 shares of the bank’s stock worth $25,131,000 after buying an additional 178,820 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in Popular by 135.7% during the second quarter. Mackenzie Financial Corp now owns 258,265 shares of the bank’s stock worth $28,463,000 after purchasing an additional 148,682 shares during the last quarter. Institutional investors own 87.27% of the company’s stock.

Insider Buying and Selling at Popular

In related news, VP Adorno Denissa Rodriguez sold 1,000 shares of Popular stock in a transaction on Friday, November 21st. The stock was sold at an average price of $114.84, for a total value of $114,840.00. Following the transaction, the vice president owned 2,604 shares in the company, valued at approximately $299,043.36. This trade represents a 27.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard L. Carrion sold 25,000 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $113.50, for a total value of $2,837,500.00. Following the sale, the director owned 193,020 shares of the company’s stock, valued at $21,907,770. The trade was a 11.47% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.09% of the company’s stock.

Analyst Upgrades and Downgrades

BPOP has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Citigroup boosted their price objective on Popular from $142.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, December 30th. Zacks Research downgraded Popular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. UBS Group restated a “neutral” rating on shares of Popular in a research note on Tuesday, January 6th. Finally, Piper Sandler began coverage on shares of Popular in a research note on Thursday. They set an “overweight” rating and a $152.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Popular currently has an average rating of “Moderate Buy” and an average price target of $137.00.

Popular Stock Down 0.6%

BPOP opened at $128.09 on Friday. The business’s fifty day simple moving average is $120.86 and its 200 day simple moving average is $119.63. The firm has a market cap of $8.54 billion, a P/E ratio of 11.34, a PEG ratio of 0.54 and a beta of 0.63. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $131.10.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, October 23rd. The bank reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.10. Popular had a net margin of 17.63% and a return on equity of 13.27%. The firm had revenue of $720.83 million for the quarter, compared to analyst estimates of $803.95 million. During the same quarter last year, the business earned $2.16 earnings per share. Popular’s revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $3.00 annualized dividend and a yield of 2.3%. Popular’s dividend payout ratio is 26.55%.

Popular Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.