KLP Kapitalforvaltning AS Invests $1.66 Million in Popular, Inc. (NASDAQ:BPOP)

KLP Kapitalforvaltning AS bought a new stake in Popular, Inc. (NASDAQ:BPOP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,500 shares of the bank’s stock, valued at approximately $1,657,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its stake in shares of Popular by 0.5% during the 3rd quarter. State Street Corp now owns 2,056,377 shares of the bank’s stock worth $207,475,000 after acquiring an additional 10,599 shares during the period. American Century Companies Inc. boosted its position in Popular by 3.0% during the fourth quarter. American Century Companies Inc. now owns 1,362,875 shares of the bank’s stock worth $128,192,000 after purchasing an additional 39,999 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Popular by 7.3% in the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock valued at $105,769,000 after purchasing an additional 71,782 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Popular by 15.4% in the fourth quarter. Bank of New York Mellon Corp now owns 697,389 shares of the bank’s stock valued at $65,596,000 after purchasing an additional 93,262 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in shares of Popular by 3.7% in the third quarter. Verition Fund Management LLC now owns 629,537 shares of the bank’s stock valued at $63,124,000 after purchasing an additional 22,355 shares during the period. 87.27% of the stock is owned by institutional investors.

Popular Stock Performance

BPOP opened at $91.52 on Friday. The firm has a market cap of $6.37 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77. The business’s fifty day moving average is $97.98 and its 200-day moving average is $96.95. Popular, Inc. has a 52-week low of $80.60 and a 52-week high of $106.81.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share (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, research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.80 annualized dividend and a yield of 3.06%. Popular’s dividend payout ratio is currently 32.71%.

Insiders Place Their Bets

In other news, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction dated Thursday, February 6th. The shares were 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 owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the sale, the executive vice president now directly owns 32,866 shares in the company, valued at $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. Corporate insiders own 2.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on BPOP shares. Keefe, Bruyette & Woods upped their price target on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased 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. StockNews.com lowered Popular from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada lifted their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, UBS Group started coverage on shares of Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Popular has a consensus rating of “Moderate Buy” and an average price target of $113.00.

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.