Ninety One North America Inc. Reduces Holdings in Credicorp Ltd. (NYSE:BAP)

Ninety One North America Inc. lessened its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 4.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 209,540 shares of the bank's stock after selling 9,403 shares during the quarter. Credicorp comprises about 2.6% of Ninety One North America Inc.'s holdings, making the stock its 13th biggest holding. Ninety One North America Inc. owned about 0.26% of Credicorp worth $39,008,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. raised its holdings in Credicorp by 243.8% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank's stock valued at $290,920,000 after acquiring an additional 1,217,368 shares in the last quarter. Norges Bank purchased a new position in Credicorp in the fourth quarter valued at approximately $84,213,000. Price T Rowe Associates Inc. MD increased its stake in Credicorp by 59.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 757,271 shares of the bank's stock valued at $138,824,000 after purchasing an additional 282,869 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in 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 purchasing an additional 280,361 shares during the last quarter. Finally, GQG Partners LLC purchased a new position in shares of Credicorp during the fourth quarter worth approximately $40,187,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analyst Weigh In

BAP has been the topic of a number of research reports. 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 reiterated a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given 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 $211.00.

Credicorp Price Performance

Credicorp stock traded up $0.03 during midday trading on Tuesday, reaching $225.76. The company's stock had a trading volume of 228,044 shares, compared to its average volume of 270,428. The stock's 50 day simple moving average is $211.74 and its 200 day simple moving average is $194.30. Credicorp Ltd. has a fifty-two week low of $153.27 and a fifty-two week high of $228.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $17.96 billion, a PE ratio of 12.28, a P/E/G ratio of 0.82 and a beta of 1.05.

Credicorp Increases Dividend

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