Credicorp Ltd. (NYSE:BAP) is ARGA Investment Management LP's 9th Largest Position

ARGA Investment Management LP lessened its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 9.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 720,857 shares of the bank's stock after selling 73,730 shares during the period. Credicorp accounts for 4.5% of ARGA Investment Management LP's investment portfolio, making the stock its 9th largest position. ARGA Investment Management LP owned about 0.91% of Credicorp worth $134,195,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. boosted its holdings in Credicorp by 243.8% in 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 period. Norges Bank bought a new position in Credicorp during the 4th quarter worth approximately $84,213,000. Price T Rowe Associates Inc. MD increased its stake in shares of Credicorp by 59.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 757,271 shares of the bank's stock worth $138,824,000 after buying an additional 282,869 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Credicorp by 130.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 494,526 shares of the bank's stock valued at $90,657,000 after acquiring an additional 280,361 shares during the period. Finally, GQG Partners LLC bought a new position in Credicorp during the 4th quarter valued at approximately $40,187,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BAP has been the subject of several research analyst reports. UBS Group reaffirmed a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. Wall Street Zen downgraded Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Credicorp presently has a consensus rating of "Hold" and a consensus target price of $211.00.

Credicorp Stock Performance

NYSE:BAP traded down $1.28 during mid-day trading on Friday, reaching $222.23. The company's stock had a trading volume of 403,143 shares, compared to its average volume of 270,798. The firm's fifty day moving average price is $213.67 and its two-hundred day moving average price is $195.29. Credicorp Ltd. has a 12-month low of $153.27 and a 12-month high of $228.69. The stock has a market cap of $17.68 billion, a P/E ratio of 12.08, a PEG ratio of 0.82 and a beta of 1.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.

Credicorp Increases Dividend

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

Credicorp 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.