Principal Financial Group Inc. Sells 291,268 Shares of Credicorp Ltd. (NYSE:BAP)

Principal Financial Group Inc. lessened its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 74.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,070 shares of the bank's stock after selling 291,268 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Credicorp worth $18,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BAP. Headlands Technologies LLC purchased a new position in shares of Credicorp in the fourth quarter worth $38,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Credicorp in the 4th quarter worth $40,000. Farther Finance Advisors LLC boosted its stake in shares of Credicorp by 2,170.0% in the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock worth $44,000 after buying an additional 217 shares during the last quarter. Quarry LP purchased a new position in shares of Credicorp in the 4th quarter worth $47,000. Finally, Wells Fargo & Company MN lifted its position in Credicorp by 45.7% during the fourth quarter. Wells Fargo & Company MN now owns 692 shares of the bank's stock valued at $127,000 after purchasing an additional 217 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Credicorp Trading Down 0.4%

BAP opened at $223.75 on Friday. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 12.17, 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 Ltd. has a 12 month low of $153.27 and a 12 month high of $228.69. The stock has a fifty day moving average price of $213.23 and a 200-day moving average price of $195.02.

Credicorp Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were paid 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 was Monday, May 19th. Credicorp's payout ratio is 59.87%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BAP. UBS Group reaffirmed a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Wall Street Zen lowered Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Credicorp has an average rating of "Hold" and an average target price of $211.00.

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.

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