ARGA Investment Management LP reduced its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 9.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 720,857 shares of the bank's stock after selling 73,730 shares during the quarter. Credicorp comprises approximately 4.5% of ARGA Investment Management LP's portfolio, making the stock its 9th biggest position. ARGA Investment Management LP owned approximately 0.91% of Credicorp worth $134,195,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. FMR LLC boosted its holdings in shares of Credicorp by 5.7% in the fourth quarter. FMR LLC now owns 3,642,818 shares of the bank's stock valued at $667,801,000 after acquiring an additional 196,197 shares during the period. Itau Unibanco Holding S.A. raised its stake in shares of Credicorp by 243.8% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank's stock worth $290,920,000 after purchasing an additional 1,217,368 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of Credicorp by 5.2% during the fourth quarter. Pzena Investment Management LLC now owns 1,080,579 shares of the bank's stock worth $198,092,000 after purchasing an additional 53,746 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Credicorp by 59.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 757,271 shares of the bank's stock worth $138,824,000 after purchasing an additional 282,869 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Credicorp by 2.9% during the fourth quarter. Lazard Asset Management LLC now owns 747,720 shares of the bank's stock worth $137,070,000 after purchasing an additional 20,785 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
BAP has been the subject of several analyst reports. UBS Group restated a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Wall Street Zen cut Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $211.00.
Read Our Latest Research Report on BAP
Credicorp Price Performance
Shares of NYSE BAP traded down $0.81 during midday trading on Friday, hitting $222.70. The company had a trading volume of 47,967 shares, compared to its average volume of 269,458. The firm has a market capitalization of $17.71 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 0.82 and a beta of 1.05. Credicorp Ltd. has a twelve month low of $153.27 and a twelve month high of $228.69. The business has a 50-day simple moving average of $213.23 and a two-hundred day simple moving average of $195.02. 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 Increases Dividend
The company also recently declared an annual dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, May 19th were paid a dividend of $10.9577 per share. This is a positive change from Credicorp's previous annual dividend of $2.91. The ex-dividend date was Monday, May 19th. This represents a dividend yield of 4.5%. Credicorp's payout ratio is 59.87%.
Credicorp Profile
(
Free Report)
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.
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