Nordea Investment Management AB increased its stake in shares of Popular Inc. (NASDAQ:BPOP) by 40.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,900 shares of the company’s stock after buying an additional 8,600 shares during the period. Nordea Investment Management AB’s holdings in Popular were worth $1,143,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Sei Investments Co. raised its stake in shares of Popular by 94.2% in the second quarter. Sei Investments Co. now owns 5,871 shares of the company’s stock valued at $173,000 after buying an additional 2,848 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Popular during the second quarter valued at about $195,000. Prudential Financial Inc. bought a new stake in shares of Popular during the second quarter valued at about $222,000. Zweig DiMenna Associates LLC bought a new stake in shares of Popular during the second quarter valued at about $223,000. Finally, Calvert Investment Management Inc. raised its stake in shares of Popular by 11.5% in the second quarter. Calvert Investment Management Inc. now owns 8,339 shares of the company’s stock valued at $244,000 after buying an additional 859 shares during the period. Institutional investors and hedge funds own 84.72% of the company’s stock.
Popular Inc. (NASDAQ:BPOP) traded up 0.12% during trading on Friday, hitting $41.49. 312,786 shares of the stock traded hands. Popular Inc. has a 52-week low of $22.40 and a 52-week high of $42.83. The company’s 50 day moving average price is $38.71 and its 200-day moving average price is $34.98. The stock has a market cap of $4.31 billion, a P/E ratio of 12.08 and a beta of 1.63.
Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.44. Popular had a return on equity of 6.99% and a net margin of 17.25%. During the same quarter in the previous year, the company posted $0.82 EPS. Equities research analysts forecast that Popular Inc. will post $3.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Shareholders of record on Friday, December 9th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, December 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.45%. Popular’s payout ratio is currently 17.54%.
Several brokerages have recently issued reports on BPOP. Zacks Investment Research upgraded shares of Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. BTIG Research lowered shares of Popular from a “buy” rating to a “neutral” rating in a research report on Tuesday. They noted that the move was a valuation call. Compass Point lowered shares of Popular from a “buy” rating to a “neutral” rating in a research report on Friday, November 18th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $48.00 target price on shares of Popular in a research report on Friday, August 26th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Popular in a research report on Wednesday, October 12th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Popular presently has an average rating of “Hold” and an average target price of $37.83.
In other Popular news, CEO Richard L. Carrion sold 16,858 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $37.44, for a total transaction of $631,163.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Juan Guerrero sold 7,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $41.88, for a total transaction of $293,160.00. Following the transaction, the insider now owns 39,860 shares of the company’s stock, valued at approximately $1,669,336.80. The disclosure for this sale can be found here. Company insiders own 1.28% of the company’s stock.
Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.