Envestnet Portfolio Solutions Inc. Lowers Holdings in Popular, Inc. (NASDAQ:BPOP)

Envestnet Portfolio Solutions Inc. reduced its stake in Popular, Inc. (NASDAQ:BPOP) by 8.5% during the fourth quarter, HoldingsChannel reports. 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BPOP. CIBC Asset Management Inc raised its holdings in Popular by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank’s stock worth $211,000 after acquiring an additional 112 shares during the last quarter. Picton Mahoney Asset Management raised its stake in shares of Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 118 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Popular by 0.7% during the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank’s stock valued at $1,971,000 after purchasing an additional 143 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Popular by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank’s stock valued at $2,888,000 after purchasing an additional 214 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in 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 buying an additional 218 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BPOP shares. StockNews.com downgraded shares of Popular from a “buy” rating to a “hold” rating in a report on Thursday. 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. Barclays increased their price target on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. 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. Finally, Wells Fargo & Company increased their target price on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $113.00.

Insiders Place Their Bets

In related news, EVP Eduardo J. Negron sold 10,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the sale, the executive vice president now owns 32,866 shares in the company, valued at approximately $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the transaction, the executive vice president now directly owns 39,170 shares in the company, valued at approximately $4,017,666.90. This represents 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.

Popular Stock Down 0.4 %

Shares of BPOP opened at $93.20 on Friday. The business has a 50-day simple moving average of $98.14 and a two-hundred day simple moving average of $96.99. Popular, Inc. has a 52 week low of $80.60 and a 52 week high of $106.81. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 0.75 and a beta of 0.77.

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

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. Popular’s payout ratio is presently 32.71%.

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.