Credicorp Ltd. (NYSE:BAP) Shares Sold by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management Inc. has reduced its stake in Credicorp Ltd. by 15.6%, owning 38,049 shares valued at approximately $7.08 million after selling 7,054 shares in the first quarter.
• In the fourth quarter, several institutional investors made significant adjustments to their holdings in Credicorp, with LPL Financial increasing its stake by 44.4% and Vanguard Group lifting its holdings by 3.0%.
• Credicorp recently increased its annual dividend to $10.96 per share, representing a yield of 4.5% and marking a substantial increase from its previous dividend of $2.91.

Thornburg Investment Management Inc. reduced its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,049 shares of the bank's stock after selling 7,054 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Credicorp were worth $7,083,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC increased its holdings in Credicorp by 5.7% during the 4th quarter. FMR LLC now owns 3,642,818 shares of the bank's stock worth $667,801,000 after purchasing an additional 196,197 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Credicorp by 0.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,032,656 shares of the bank's stock worth $564,559,000 after purchasing an additional 7,692 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in Credicorp by 243.8% during the 4th 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. Price T Rowe Associates Inc. MD increased its holdings in Credicorp by 59.6% during the 4th 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 increased its holdings in Credicorp by 2.9% during the 4th 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 currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. The Goldman Sachs Group upgraded Credicorp from a "sell" rating to a "neutral" rating and boosted their price target for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Finally, UBS Group reiterated a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $227.25.

Credicorp Stock Performance

NYSE:BAP traded down $1.06 during midday trading on Friday, reaching $235.94. 388,315 shares of the company traded hands, compared to its average volume of 296,126. Credicorp Ltd. has a twelve month low of $153.27 and a twelve month high of $240.00. The firm has a market capitalization of $18.77 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.84 and a beta of 1.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.03 and a quick ratio of 1.03. The company has a fifty day moving average price of $221.97 and a 200 day moving average price of $200.18.

Credicorp Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were given a dividend of $10.9577 per share. The ex-dividend date was Monday, May 19th. This represents a yield of 450.0%. This is an increase from Credicorp's previous annual dividend of $2.91. Credicorp's payout ratio is presently 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.