Ameriprise Financial Inc. Cuts Position in Credicorp Ltd. (NYSE:BAP)

Ameriprise Financial Inc. lessened its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 16.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,226 shares of the bank's stock after selling 8,905 shares during the period. Ameriprise Financial Inc. owned approximately 0.06% of Credicorp worth $8,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Itau Unibanco Holding S.A. lifted its holdings in shares of Credicorp by 243.8% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank's stock valued at $290,920,000 after purchasing an additional 1,217,368 shares during the last quarter. Jane Street Group LLC grew its position in Credicorp by 250.7% during the 4th quarter. Jane Street Group LLC now owns 18,995 shares of the bank's stock worth $3,482,000 after purchasing an additional 13,579 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in Credicorp by 3.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 35,523 shares of the bank's stock worth $6,512,000 after purchasing an additional 1,100 shares during the period. Northern Trust Corp grew its position in Credicorp by 54.0% during the 4th quarter. Northern Trust Corp now owns 438,539 shares of the bank's stock worth $80,393,000 after purchasing an additional 153,810 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Credicorp by 1.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 210,858 shares of the bank's stock worth $38,654,000 after purchasing an additional 2,995 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Credicorp from a "hold" rating to a "buy" rating in a research report on Saturday.

Credicorp Price Performance

Shares of Credicorp stock traded up $3.47 on Tuesday, hitting $207.71. 323,669 shares of the company were exchanged, compared to its average volume of 259,916. The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00. The company has a 50-day moving average price of $193.07 and a 200 day moving average price of $188.55. Credicorp Ltd. has a 1-year low of $153.27 and a 1-year high of $210.71. The company has a quick ratio of 1.07, a current ratio of 1.02 and a debt-to-equity ratio of 0.68.

Credicorp Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, May 19th will be issued a dividend of $10.9577 per share. This is a boost from Credicorp's previous annual dividend of $2.91. This represents a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, May 19th. Credicorp's payout ratio is currently 58.95%.

Credicorp Company Profile

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.