Envestnet Asset Management Inc. Boosts Position in Popular, Inc. (NASDAQ:BPOP)

Envestnet Asset Management Inc. grew its position in shares of Popular, Inc. (NASDAQ:BPOP) by 10.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,106 shares of the bank’s stock after purchasing an additional 8,262 shares during the period. Envestnet Asset Management Inc. owned approximately 0.13% of Popular worth $8,046,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Popular during the 4th quarter worth about $27,000. Versant Capital Management Inc raised its holdings in Popular by 589.9% during the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank’s stock worth $76,000 after buying an additional 702 shares during the period. Crestline Management LP acquired a new stake in Popular during the 4th quarter worth about $215,000. AXQ Capital LP acquired a new stake in Popular during the 4th quarter worth about $224,000. Finally, Vise Technologies Inc. acquired a new position in shares of Popular in the 4th quarter valued at about $227,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Insider Activity at Popular

In other news, EVP Camille Burckhart sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total value of $728,980.00. Following the completion of the transaction, the executive vice president owned 27,382 shares in the company, valued at $2,851,561.48. This trade represents a 20.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the completion of the transaction, the vice president owned 3,604 shares of the company’s stock, valued at approximately $376,365.72. The trade was a 12.18% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BPOP shares. Wells Fargo & Company boosted their price objective on Popular from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. UBS Group reaffirmed a “neutral” rating on shares of Popular in a research report on Wednesday, July 9th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Popular in a research note on Monday, June 30th. Barclays upped their price objective on Popular from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen cut Popular from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.29.

Popular Stock Performance

NASDAQ:BPOP opened at $114.99 on Tuesday. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.63 and a beta of 0.63. The business’s fifty day moving average is $107.71 and its 200 day moving average is $99.60. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $116.80.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating the consensus estimate of $2.26 by $0.30. The firm had revenue of $755.46 million for the quarter, compared to analyst estimates of $760.45 million. Popular had a return on equity of 12.22% and a net margin of 15.82%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 EPS. Equities analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.43%. The ex-dividend date was Thursday, May 29th. Popular’s dividend payout ratio (DPR) is currently 28.90%.

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.