Allianz Asset Management GmbH Acquires 35,530 Shares of Credicorp Ltd. (NYSE:BAP)

Key Points

• Allianz Asset Management GmbH increased its holdings in Credicorp Ltd. by 87.7%, now owning 76,021 shares valued at approximately $14.15 million, according to its latest SEC filing.
• Credicorp recently announced an increase in its annual dividend, which was raised to $10.9577, significantly up from the previous $2.91, representing a yield of 4.5%.
• Analysts have mixed views on Credicorp, with Goldman Sachs upgrading shares from "sell" to "neutral" and raising the price target to $225, while others have downgraded ratings, indicating varied market sentiment.

Allianz Asset Management GmbH boosted its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 87.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,021 shares of the bank's stock after purchasing an additional 35,530 shares during the quarter. Allianz Asset Management GmbH owned about 0.10% of Credicorp worth $14,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Credicorp in the 4th quarter worth approximately $38,000. Cullen Frost Bankers Inc. purchased a new stake in Credicorp in the 1st quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Credicorp during the 4th quarter valued at $40,000. Farther Finance Advisors LLC raised its position in shares of Credicorp by 2,170.0% during the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock valued at $44,000 after buying an additional 217 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Credicorp during the 4th quarter valued at $47,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Stock Down 0.8%

Shares of BAP stock traded down $1.99 during mid-day trading on Friday, hitting $235.13. The company's stock had a trading volume of 144,421 shares, compared to its average volume of 318,162. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.03. Credicorp Ltd. has a 52-week low of $153.27 and a 52-week high of $240.00. The stock has a market cap of $18.70 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 0.84 and a beta of 1.05. The business has a 50-day moving average price of $218.43 and a 200 day moving average price of $198.47.

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 paid a dividend of $10.9577 per share. The ex-dividend date was Monday, May 19th. This represents a yield of 4.5%. This is a boost from Credicorp's previous annual dividend of $2.91. Credicorp's dividend payout ratio is currently 59.87%.

Analysts Set New Price Targets

BAP has been the topic of several recent research reports. UBS Group reaffirmed a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and increased their target price for the company from $174.00 to $225.00 in a report on Thursday. Finally, Wall Street Zen cut Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $227.25.

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.