Secured Retirement Advisors LLC Sells 420 Shares of Popular, Inc. $BPOP

Secured Retirement Advisors LLC decreased its position in Popular, Inc. (NASDAQ:BPOP) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,467 shares of the bank’s stock after selling 420 shares during the quarter. Secured Retirement Advisors LLC’s holdings in Popular were worth $1,594,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BPOP. Envestnet Asset Management Inc. increased its stake in shares of Popular by 10.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 87,106 shares of the bank’s stock worth $8,046,000 after acquiring an additional 8,262 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Popular by 164.7% during the first quarter. Cerity Partners LLC now owns 15,731 shares of the bank’s stock valued at $1,453,000 after purchasing an additional 9,788 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Popular by 50.0% during the first quarter. Janney Montgomery Scott LLC now owns 14,449 shares of the bank’s stock valued at $1,335,000 after purchasing an additional 4,818 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Popular by 105.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,256 shares of the bank’s stock valued at $1,132,000 after purchasing an additional 6,281 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Popular by 4.7% during the first quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank’s stock valued at $398,000 after purchasing an additional 195 shares in the last quarter. Institutional investors own 87.27% of the company’s stock.

Insiders Place Their Bets

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the completion of the sale, the executive vice president directly owned 24,773 shares in the company, valued at $3,083,495.31. The trade was a 42.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.23% of the company’s stock.

Popular Stock Down 1.4%

Shares of Popular stock opened at $125.31 on Wednesday. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 0.66 and a beta of 0.68. The company’s 50 day moving average is $122.43 and its 200 day moving average is $108.75. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $129.32.

Popular (NASDAQ:BPOP) last posted its earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.49. The business had revenue of $800.03 million during the quarter, compared to the consensus estimate of $777.38 million. Popular had a net margin of 16.49% and a return on equity of 12.48%. During the same quarter in the previous year, the firm posted $2.46 EPS. Sell-side analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Popular from $125.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Royal Bank Of Canada restated an “outperform” rating on shares of Popular in a report on Thursday, July 24th. Zacks Research downgraded Popular from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Hovde Group reaffirmed an “outperform” rating on shares of Popular in a report on Friday, August 29th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Popular in a report on Wednesday, July 9th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $130.13.

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.