Credicorp Ltd. (NYSE:BAP) Position Trimmed by ARGA Investment Management LP

ARGA Investment Management LP trimmed its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 720,857 shares of the bank's stock after selling 73,730 shares during the quarter. Credicorp comprises about 4.5% of ARGA Investment Management LP's investment portfolio, making the stock its 9th largest holding. ARGA Investment Management LP owned approximately 0.91% of Credicorp worth $134,195,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in shares of Credicorp by 173.1% in the 4th quarter. Assetmark Inc. now owns 17,701 shares of the bank's stock valued at $3,245,000 after acquiring an additional 11,220 shares in the last quarter. Callan Family Office LLC purchased a new stake in Credicorp in the 4th quarter valued at about $204,000. PNC Financial Services Group Inc. lifted its position in shares of Credicorp by 5.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,591 shares of the bank's stock worth $292,000 after buying an additional 76 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Credicorp by 1.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 159,341 shares of the bank's stock valued at $29,210,000 after acquiring an additional 1,680 shares during the last quarter. Finally, Pzena Investment Management LLC grew its stake in Credicorp by 5.2% in the 4th quarter. Pzena Investment Management LLC now owns 1,080,579 shares of the bank's stock valued at $198,092,000 after purchasing an additional 53,746 shares during the period. Institutional investors own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BAP shares. Wall Street Zen lowered shares of Credicorp from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. UBS Group reissued a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Credicorp has an average rating of "Hold" and a consensus target price of $211.00.

Credicorp Price Performance

NYSE:BAP traded down $0.94 during mid-day trading on Wednesday, hitting $224.80. 210,577 shares of the stock traded hands, compared to its average volume of 270,048. The business's 50-day moving average price is $212.26 and its 200 day moving average price is $194.52. The company has a market cap of $17.88 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.82 and a beta of 1.05. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.49. Credicorp Ltd. has a 12-month low of $153.27 and a 12-month high of $229.91.

Credicorp Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were issued a dividend of $10.9577 per share. The ex-dividend date was Monday, May 19th. This is a boost from Credicorp's previous annual dividend of $2.91. This represents a yield of 4.5%. Credicorp's dividend payout ratio is currently 59.87%.

About Credicorp

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.