Envestnet Portfolio Solutions Inc. Sells 332 Shares of Popular, Inc. (NASDAQ:BPOP)

Envestnet Portfolio Solutions Inc. lowered its position in shares of Popular, Inc. (NASDAQ:BPOP) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,585 shares of the bank’s stock after selling 332 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Popular were worth $337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BPOP. Proficio Capital Partners LLC purchased a new position in shares of Popular during the 4th quarter valued at about $27,000. Picton Mahoney Asset Management grew its position in Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after acquiring an additional 118 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Popular during the third quarter worth approximately $47,000. Smartleaf Asset Management LLC lifted its holdings in shares of Popular by 56.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after acquiring an additional 218 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Popular in the 3rd quarter valued at $81,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BPOP shares. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their price objective on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. StockNews.com cut Popular from a “buy” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company lifted their price target on Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Barclays increased their price objective on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.00.

Popular Stock Performance

Shares of BPOP stock opened at $93.20 on Friday. Popular, Inc. has a fifty-two week low of $80.60 and a fifty-two week high of $106.81. The firm has a market cap of $6.49 billion, a P/E ratio of 10.89, a P/E/G ratio of 0.75 and a beta of 0.77. The business’s 50 day moving average price is $98.14 and its 200-day moving average price is $96.99.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. As a group, equities analysts predict that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The business also recently declared 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. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, March 18th. Popular’s payout ratio is currently 32.71%.

Insiders Place Their Bets

In other news, EVP Eduardo J. Negron sold 10,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the sale, the executive vice president now owns 32,866 shares in the company, valued at approximately $3,418,721.32. The trade was a 23.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the transaction, the executive vice president now owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. The trade was a 19.68 % 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.

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.