Assetmark Inc. Lowers Stock Position in Popular, Inc. (NASDAQ:BPOP)

Assetmark Inc. cut its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,495 shares of the bank’s stock after selling 254 shares during the period. Assetmark Inc.’s holdings in Popular were worth $329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. TCW Group Inc. raised its position in Popular by 15.2% in the third quarter. TCW Group Inc. now owns 94,815 shares of the bank’s stock valued at $9,507,000 after purchasing an additional 12,494 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock valued at $105,769,000 after buying an additional 71,782 shares during the period. Thrivent Financial for Lutherans lifted its stake in Popular by 284.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 72,403 shares of the bank’s stock worth $7,260,000 after acquiring an additional 53,590 shares in the last quarter. Cerity Partners LLC boosted its holdings in Popular by 83.9% during the 3rd quarter. Cerity Partners LLC now owns 9,546 shares of the bank’s stock valued at $957,000 after acquiring an additional 4,354 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Popular by 56.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock valued at $57,000 after acquiring an additional 218 shares in the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Barclays increased their price target on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada raised their price target on shares of Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. UBS Group began coverage on Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price objective on the stock. Keefe, Bruyette & Woods lifted their target price on Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their target price on Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Popular presently has a consensus rating of “Moderate Buy” and an average price target of $112.25.

Popular Price Performance

Popular stock opened at $87.14 on Thursday. The stock has a market cap of $6.21 billion, a PE ratio of 10.18, a P/E/G ratio of 0.75 and a beta of 0.77. The stock’s fifty day moving average is $99.03 and its two-hundred day moving average is $97.67. Popular, Inc. has a 1-year low of $80.60 and a 1-year high of $106.81.

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

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Tuesday, March 18th. Popular’s payout ratio is 32.71%.

Insider Activity at Popular

In other Popular news, 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 sale, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Popular 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.