Shell Asset Management Co. Has $624,000 Holdings in Popular, Inc. (NASDAQ:BPOP)

Shell Asset Management Co. decreased its position in shares of Popular, Inc. (NASDAQ:BPOP) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,089 shares of the bank’s stock after selling 245 shares during the period. Shell Asset Management Co.’s holdings in Popular were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Popular in the 1st quarter valued at about $42,000. Principal Securities Inc. bought a new stake in shares of Popular during the fourth quarter worth approximately $83,000. GAMMA Investing LLC bought a new position in shares of Popular in the 4th quarter worth $90,000. Clear Street Markets LLC bought a new stake in shares of Popular in the fourth quarter valued at about $139,000. Finally, CWM LLC boosted its position in Popular by 164.8% during the 1st quarter. CWM LLC now owns 1,769 shares of the bank’s stock worth $156,000 after acquiring an additional 1,101 shares during the last quarter. Institutional investors own 87.27% of the company’s stock.

Popular Stock Up 1.3 %

Shares of NASDAQ:BPOP traded up $1.33 during trading on Friday, reaching $103.54. 121,482 shares of the company traded hands, compared to its average volume of 393,245. The firm has a market capitalization of $7.48 billion, a PE ratio of 15.16, a PEG ratio of 0.82 and a beta of 0.80. Popular, Inc. has a 52 week low of $59.27 and a 52 week high of $105.01. The company’s 50 day moving average is $89.76 and its two-hundred day moving average is $86.68.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.38. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $751.57 million. Popular had a return on equity of 12.00% and a net margin of 12.20%. During the same quarter last year, the company posted $2.10 EPS. As a group, research analysts anticipate that Popular, Inc. will post 8.41 EPS for the current year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Thursday, May 30th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, May 30th. Popular’s payout ratio is presently 36.80%.

Insiders Place Their Bets

In other news, EVP Gilberto Monzon sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $85.80, for a total value of $429,000.00. Following the transaction, the executive vice president now directly owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Popular news, EVP Manuel Chinea sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $90.70, for a total value of $1,088,400.00. Following the transaction, the executive vice president now owns 27,086 shares in the company, valued at $2,456,700.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gilberto Monzon sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $85.80, for a total value of $429,000.00. Following the sale, the executive vice president now owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BPOP. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 price target (up from $110.00) on shares of Popular in a research report on Thursday. StockNews.com upgraded Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Piper Sandler increased their price objective on Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Barclays boosted their target price on shares of Popular from $103.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.22.

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.