Algert Global LLC Has $11.45 Million Holdings in Popular, Inc. (NASDAQ:BPOP)

Algert Global LLC lifted its position in shares of Popular, Inc. (NASDAQ:BPOP) by 29.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,164 shares of the bank’s stock after acquiring an additional 25,785 shares during the quarter. Algert Global LLC owned approximately 0.16% of Popular worth $11,447,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in shares of Popular by 52.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank’s stock valued at $73,867,000 after acquiring an additional 286,450 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Popular by 235.5% during 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 last quarter. AQR Capital Management LLC lifted its holdings in Popular by 23.6% during the 2nd quarter. AQR Capital Management LLC now owns 859,794 shares of the bank’s stock worth $75,129,000 after buying an additional 164,270 shares during the period. American Century Companies Inc. lifted its holdings in Popular by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock worth $107,781,000 after buying an additional 113,838 shares during the period. Finally, Jupiter Asset Management Ltd. grew its position in shares of Popular by 38.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 314,318 shares of the bank’s stock valued at $27,795,000 after buying an additional 87,312 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insider Activity

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the completion of the sale, the vice president now directly owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. The trade was a 35.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Beatriz Castellvi sold 3,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. This represents a 12.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Analyst Ratings Changes

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

Popular Trading Up 0.9 %

NASDAQ:BPOP opened at $98.96 on Friday. Popular, Inc. has a 12 month low of $71.08 and a 12 month high of $105.01. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.77 and a beta of 0.79. The firm has a fifty day simple moving average of $96.52 and a two-hundred day simple moving average of $94.31.

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

Popular Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Friday, December 6th. This is a boost from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio (DPR) is 33.70%.

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.