Alejandro Ballester, a director at Popular, Inc. (NASDAQ:BPOP), has recently sold shares in the company valued at approximately $49,431. The transactions, which took place on May 1, 2024, involved a total of 572 shares sold at a weighted average price of $86.418. The sales occurred through multiple transactions with prices ranging from $86.415 to $86.43.
The SEC Form 4 filing, which was submitted on May 3, 2024, indicates that following the sale, Ballester's direct holdings in Popular, Inc. have been reduced to zero. The report also notes that the shares sold were indirectly owned through Ballester's daughter, as detailed in the ownership nature section of the filing. Additionally, the document includes a footnote explaining that a slight decrease in shares, specifically 0.575 shares, resulted from the cash-out of fractional shares.
Ballester continues to have indirect ownership of Popular, Inc. shares through family members, with 349.021 shares held by his son and a significant number of restricted stock units. According to the footnotes in the filing, these restricted stock units will convert into common stock on a one-for-one basis and are scheduled to be issued in equal annual installments on each August 15 for the first five years following Ballester's termination of service as a director.
Investors and followers of Popular, Inc. can request detailed information about the exact number of shares sold at each price point within the ranges specified in the SEC filing, as Ballester has undertaken to provide this information upon request to the company, its security holders, or the SEC staff. The transactions were signed off by Marie Reyes-Rodriguez, acting as Attorney-in-fact.
InvestingPro Insights
As investors evaluate the recent insider transactions at Popular, Inc. (NASDAQ:BPOP), it's crucial to consider the company's financial health and market performance to understand the broader context. According to InvestingPro data, Popular Inc (NASDAQ:BPOP). boasts a solid market capitalization of $6.48 billion and a Price/Earnings (P/E) ratio of 13.32, which adjusts to 12.87 when looking at the last twelve months as of Q1 2024. These figures suggest a company with a reasonable valuation in the current market.
However, it's not just the valuation metrics that catch the eye. Popular Inc. has experienced a significant 6-month price total return of 28.61%, and it's trading near its 52-week high, at 99.86% of the peak price. This performance is reflective of the company's strong returns over the past year, with a one-year price total return of 65.14%. Such metrics indicate robust investor confidence and a potentially bullish outlook for the stock.
Adding to the positive sentiment, InvestingPro Tips highlight that Popular Inc. has not only maintained dividend payments for 10 consecutive years but has also raised its dividend for 5 consecutive years, showcasing a commitment to shareholder returns. Moreover, four analysts have revised their earnings upwards for the upcoming period, hinting at an optimistic future earnings trajectory for the company.
For investors seeking more in-depth analysis and additional insights, there are more InvestingPro Tips available at Investing.com/pro/BPOP. And for those ready to dive deeper into the data and expert analyses, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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