Legal & General Group Plc lifted its holdings in shares of Popular Inc (NASDAQ:BPOP) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,594 shares of the bank’s stock after buying an additional 7,771 shares during the quarter. Legal & General Group Plc owned approximately 0.10% of Popular worth $3,800,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its stake in Popular by 5.8% in the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,261,030 shares of the bank’s stock valued at $261,148,000 after purchasing an additional 343,637 shares during the last quarter. BlackRock Inc. raised its stake in Popular by 12.7% in the 2nd quarter. BlackRock Inc. now owns 5,033,292 shares of the bank’s stock valued at $209,937,000 after purchasing an additional 567,642 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Popular by 0.6% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,449,027 shares of the bank’s stock valued at $123,958,000 after purchasing an additional 21,271 shares during the last quarter. State Street Corp raised its stake in Popular by 3.2% in the 2nd quarter. State Street Corp now owns 3,284,653 shares of the bank’s stock valued at $137,001,000 after purchasing an additional 100,572 shares during the last quarter. Finally, Polaris Capital Management LLC raised its stake in Popular by 35.9% in the 2nd quarter. Polaris Capital Management LLC now owns 3,149,712 shares of the bank’s stock valued at $131,374,000 after purchasing an additional 831,871 shares during the last quarter. 88.94% of the stock is owned by institutional investors and hedge funds.
Shares of Popular Inc (NASDAQ:BPOP) opened at $36.69 on Friday. The stock has a market capitalization of $3,745.39, a price-to-earnings ratio of 12.75 and a beta of 1.31. Popular Inc has a twelve month low of $32.04 and a twelve month high of $45.96.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 5th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.73%. The ex-dividend date is Monday, December 4th. Popular’s payout ratio is currently 50.76%.
Several research firms recently commented on BPOP. Citigroup began coverage on Popular in a research note on Thursday. They issued a “buy” rating and a $47.00 price objective for the company. ValuEngine downgraded Popular from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Morgan Stanley increased their price objective on Popular from $40.00 to $41.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. Zacks Investment Research downgraded Popular from a “buy” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, Barclays upped their target price on Popular from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.50.
TRADEMARK VIOLATION NOTICE: This story was published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.com-unik.info/2017/12/23/popular-inc-bpop-shares-bought-by-legal-general-group-plc.html.
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.
Want to see what other hedge funds are holding BPOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Popular Inc (NASDAQ:BPOP).
Receive News & Ratings for Popular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Popular and related companies with MarketBeat.com's FREE daily email newsletter.