Envestnet Asset Management Inc. Purchases 7,918 Shares of Popular, Inc. $BPOP

Envestnet Asset Management Inc. boosted its holdings in Popular, Inc. (NASDAQ:BPOP) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 105,927 shares of the bank’s stock after purchasing an additional 7,918 shares during the quarter. Envestnet Asset Management Inc. owned about 0.16% of Popular worth $13,454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP increased its holdings in Popular by 2,158.8% during the 2nd quarter. Allworth Financial LP now owns 384 shares of the bank’s stock worth $42,000 after purchasing an additional 367 shares in the last quarter. True Wealth Design LLC lifted its stake in Popular by 262.9% in the third quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock valued at $45,000 after purchasing an additional 255 shares during the last quarter. IFP Advisors Inc grew its holdings in Popular by 3,925.0% during the second quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock valued at $53,000 after purchasing an additional 471 shares during the period. Farther Finance Advisors LLC grew its holdings in Popular by 63.2% during the third quarter. Farther Finance Advisors LLC now owns 682 shares of the bank’s stock valued at $87,000 after purchasing an additional 264 shares during the period. Finally, Osaic Holdings Inc. grew its stake in Popular by 63.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,515 shares of the bank’s stock valued at $164,000 after buying an additional 589 shares in the last quarter. 87.27% of the stock is owned by institutional investors.

Popular Trading Up 0.5%

Shares of BPOP opened at $142.63 on Tuesday. The firm has a fifty day simple moving average of $129.78 and a two-hundred day simple moving average of $122.93. The firm has a market cap of $9.51 billion, a PE ratio of 11.58, a P/E/G ratio of 0.88 and a beta of 0.63. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $149.31.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, topping the consensus estimate of $3.02 by $0.36. Popular had a return on equity of 13.87% and a net margin of 18.75%.The company had revenue of $815.98 million during the quarter, compared to analyst estimates of $811.55 million. During the same quarter in the previous year, the company posted $2.51 earnings per share. As a group, research analysts forecast that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler assumed coverage on shares of Popular in a research note on Thursday, January 15th. They issued an “overweight” rating and a $152.00 price target for the company. Citigroup boosted their price objective on Popular from $144.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Royal Bank Of Canada raised their target price on shares of Popular from $137.00 to $141.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Zacks Research upgraded shares of Popular from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Truist Financial upped their price target on Popular from $153.00 to $164.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Popular has an average rating of “Buy” and an average price target of $155.73.

Insider Activity

In other news, Director Richard L. Carrion sold 25,000 shares of Popular stock in a transaction on Monday, November 24th. The shares were sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the transaction, the director owned 193,020 shares in the company, valued at $21,907,770. This trade represents a 11.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alejandro M. Ballester sold 2,360 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $132.50, for a total value of $312,700.00. Following the completion of the sale, the director owned 57,449 shares of the company’s stock, valued at $7,611,992.50. This trade represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 28,360 shares of company stock valued at $3,265,040 in the last quarter. 2.23% of the stock is currently owned by insiders.

Popular Company 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.