KLP Kapitalforvaltning AS Sells 500 Shares of Popular, Inc. $BPOP

KLP Kapitalforvaltning AS cut its position in Popular, Inc. (NASDAQ:BPOP) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,900 shares of the bank’s stock after selling 500 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Popular were worth $1,874,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Popular by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,569,149 shares of the bank’s stock valued at $329,674,000 after purchasing an additional 34,322 shares during the last quarter. Wellington Management Group LLP raised its position in Popular by 1.7% in the first quarter. Wellington Management Group LLP now owns 1,940,484 shares of the bank’s stock valued at $179,243,000 after purchasing an additional 32,078 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Popular by 4.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,485,141 shares of the bank’s stock valued at $137,182,000 after purchasing an additional 66,412 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Popular by 52.8% during the first quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank’s stock worth $129,722,000 after acquiring an additional 495,325 shares during the last quarter. Finally, Earnest Partners LLC raised its position in shares of Popular by 3.5% during the first quarter. Earnest Partners LLC now owns 725,105 shares of the bank’s stock worth $66,978,000 after acquiring an additional 24,759 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

Popular Price Performance

NASDAQ BPOP opened at $117.63 on Monday. Popular, Inc. has a one year low of $78.23 and a one year high of $129.32. The business has a 50 day simple moving average of $122.95 and a 200 day simple moving average of $109.48. The stock has a market capitalization of $7.95 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.51 and a beta of 0.68.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%.The firm had revenue of $800.03 million during the quarter, compared to analysts’ expectations of $777.38 million. During the same quarter last year, the firm posted $2.46 earnings per share. Equities analysts expect that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The company also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.1328 dividend. Popular’s dividend payout ratio (DPR) is presently 29.07%.

Insider Buying and Selling

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the sale, the executive vice president owned 24,773 shares of the company’s stock, valued at approximately $3,083,495.31. This trade represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BPOP. Hovde Group restated an “outperform” rating on shares of Popular in a research report on Friday, August 29th. Weiss Ratings restated a “buy (b)” rating on shares of Popular in a research report on Wednesday, October 8th. UBS Group restated a “neutral” rating on shares of Popular in a research report on Wednesday, July 9th. Citigroup raised their price objective on Popular from $133.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Popular in a research report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.67.

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.