Philadelphia Financial Management of San Francisco LLC raised its stake in shares of Popular Inc (NASDAQ:BPOP) by 50.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 883,268 shares of the bank’s stock after purchasing an additional 296,570 shares during the quarter. Popular comprises 4.6% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 4th biggest position. Philadelphia Financial Management of San Francisco LLC owned approximately 0.87% of Popular worth $31,347,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Popular by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock valued at $124,000 after acquiring an additional 200 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Popular in the 3rd quarter valued at $9,497,000. Prudential Financial Inc. boosted its holdings in shares of Popular by 63.9% in the 3rd quarter. Prudential Financial Inc. now owns 903,755 shares of the bank’s stock valued at $32,480,000 after acquiring an additional 352,420 shares during the last quarter. Boston Partners boosted its holdings in shares of Popular by 11.2% in the 3rd quarter. Boston Partners now owns 334,913 shares of the bank’s stock valued at $12,036,000 after acquiring an additional 33,710 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Popular by 462.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,459 shares of the bank’s stock valued at $340,000 after acquiring an additional 7,776 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.
Shares of Popular Inc (BPOP) traded down $0.09 during midday trading on Wednesday, reaching $44.31. 32,552 shares of the company were exchanged, compared to its average volume of 869,859. Popular Inc has a 12-month low of $32.04 and a 12-month high of $46.83. The stock has a market capitalization of $4,538.55, a P/E ratio of 43.96 and a beta of 1.10.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.26%. The ex-dividend date is Thursday, March 15th. Popular’s payout ratio is 99.01%.
A number of analysts recently issued reports on BPOP shares. BidaskClub raised shares of Popular from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods set a $49.00 price target on shares of Popular and gave the stock a “buy” rating in a report on Thursday, February 15th. Citigroup started coverage on shares of Popular in a report on Thursday, December 21st. They set a “buy” rating and a $47.00 price target on the stock. Zacks Investment Research downgraded shares of Popular from a “buy” rating to a “hold” rating in a report on Friday, February 16th. Finally, Barclays increased their price target on shares of Popular from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $48.31.
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Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.
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