41,032 Shares in Popular, Inc. $BPOP Purchased by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC purchased a new stake in Popular, Inc. (NASDAQ:BPOP) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 41,032 shares of the bank’s stock, valued at approximately $6,914,000.

Several other institutional investors have also recently added to or reduced their stakes in BPOP. AQR Capital Management LLC raised its stake in Popular by 56.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank’s stock valued at $376,314,000 after acquiring an additional 1,065,452 shares during the last quarter. Norges Bank purchased a new position in shares of Popular in the 4th quarter valued at approximately $104,955,000. Panagora Asset Management Inc. grew its stake in shares of Popular by 85.2% in the 4th quarter. Panagora Asset Management Inc. now owns 680,282 shares of the bank’s stock valued at $84,709,000 after purchasing an additional 312,984 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Popular by 2,752.6% in the third quarter. Balyasny Asset Management L.P. now owns 312,447 shares of the bank’s stock valued at $39,684,000 after purchasing an additional 301,494 shares during the period. Finally, Arbejdsmarkedets Tillaegspension acquired a new position in shares of Popular in the fourth quarter valued at approximately $24,841,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insider Transactions at Popular

In other Popular news, Director Alejandro M. Sanchez sold 300 shares of Popular stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $150.36, for a total value of $45,108.00. Following the completion of the sale, the director owned 3,960 shares in the company, valued at $595,425.60. The trade was a 7.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Maria Luisa Ferre sold 3,385 shares of Popular stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $175.42, for a total value of $593,796.70. Following the completion of the sale, the director owned 10,156 shares of the company’s stock, valued at $1,781,565.52. This trade represents a 25.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 53,261 shares of company stock worth $9,336,093 in the last quarter. 2.13% of the stock is currently owned by corporate insiders.

Popular Stock Performance

Shares of BPOP opened at $174.84 on Wednesday. Popular, Inc. has a fifty-two week low of $108.74 and a fifty-two week high of $179.00. The company has a market capitalization of $11.28 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.67 and a beta of 0.61. The stock has a fifty day moving average of $166.94 and a two-hundred day moving average of $150.13.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $3.72 by $0.63. The business had revenue of $846.92 million during the quarter, compared to the consensus estimate of $878.41 million. Popular had a return on equity of 15.47% and a net margin of 21.37%.During the same quarter in the previous year, the business earned $3.09 earnings per share. As a group, equities research analysts forecast that Popular, Inc. will post 15.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BPOP has been the subject of several analyst reports. Benchmark upped their price target on Popular from $201.00 to $214.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Barclays lifted their price objective on shares of Popular from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Truist Financial boosted their price objective on shares of Popular from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Weiss Ratings restated a “buy (a-)” rating on shares of Popular in a research report on Friday, July 31st. Finally, Royal Bank Of Canada raised their price objective on shares of Popular from $163.00 to $181.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $186.92.

Popular Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.