Mackenzie Financial Corp Sells 244 Shares of Popular, Inc. (NASDAQ:BPOP)

Mackenzie Financial Corp reduced its stake in Popular, Inc. (NASDAQ:BPOP) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,431 shares of the bank’s stock after selling 244 shares during the period. Mackenzie Financial Corp’s holdings in Popular were worth $1,020,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Popular by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,016,116 shares of the bank’s stock worth $568,105,000 after purchasing an additional 171,391 shares during the period. Wellington Management Group LLP lifted its position in shares of Popular by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 3,599,881 shares of the bank’s stock worth $226,829,000 after purchasing an additional 642,694 shares during the period. American Century Companies Inc. lifted its position in shares of Popular by 64.9% in the 3rd quarter. American Century Companies Inc. now owns 726,743 shares of the bank’s stock worth $45,792,000 after purchasing an additional 286,119 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Popular by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 711,686 shares of the bank’s stock worth $44,843,000 after purchasing an additional 27,767 shares during the period. Finally, Earnest Partners LLC lifted its position in shares of Popular by 7.6% in the 3rd quarter. Earnest Partners LLC now owns 693,493 shares of the bank’s stock worth $43,697,000 after purchasing an additional 49,255 shares during the period. 87.27% of the stock is currently owned by institutional investors.

Popular Price Performance

Shares of BPOP stock opened at $88.36 on Thursday. The firm’s 50-day moving average is $84.55 and its two-hundred day moving average is $78.83. Popular, Inc. has a 12 month low of $52.32 and a 12 month high of $89.70. The company has a market capitalization of $6.39 billion, a PE ratio of 11.73 and a beta of 0.82.

Popular (NASDAQ:BPOP) last issued its earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.89. Popular had a net margin of 13.86% and a return on equity of 12.63%. The company had revenue of $702.92 million for the quarter, compared to the consensus estimate of $699.76 million. Sell-side analysts forecast that Popular, Inc. will post 8.52 EPS for the current year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Wednesday, March 13th. Popular’s dividend payout ratio (DPR) is presently 32.93%.

Analyst Ratings Changes

BPOP has been the subject of a number of analyst reports. Hovde Group increased their target price on shares of Popular from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday. Wells Fargo & Company increased their target price on shares of Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays initiated coverage on shares of Popular in a research report on Friday, March 8th. They set an “overweight” rating and a $99.00 target price for the company. UBS Group increased their target price on shares of Popular from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Finally, Citigroup upped their price target on shares of Popular from $103.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.22.

Insiders Place Their Bets

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the sale, the executive vice president now directly owns 26,772 shares in the company, valued at $2,260,092.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Luis E. Cestero sold 599 shares of Popular stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the transaction, the executive vice president now owns 26,529 shares in the company, valued at $2,272,208.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the transaction, the executive vice president now owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The disclosure for this sale can be found here. 2.13% of the stock is owned by insiders.

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.