Principal Financial Group Inc. Reduces Stake in Credicorp Ltd. (NYSE:BAP)

Principal Financial Group Inc. lessened its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 74.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,070 shares of the bank's stock after selling 291,268 shares during the quarter. Principal Financial Group Inc. owned 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 have also recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new position in Credicorp during the fourth quarter worth $38,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Credicorp in the fourth quarter valued at about $40,000. Farther Finance Advisors LLC raised its holdings in Credicorp by 2,170.0% during the first quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock worth $44,000 after acquiring an additional 217 shares in the last quarter. Quarry LP acquired a new position in Credicorp during the fourth quarter valued at approximately $47,000. Finally, Wells Fargo & Company MN boosted 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 during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Trading Down 0.6%

Shares of BAP stock traded down $1.28 on Friday, hitting $222.23. The company had a trading volume of 403,143 shares, compared to its average volume of 270,798. 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 twelve month low of $153.27 and a twelve month high of $228.69. The stock's 50-day moving average is $213.23 and its two-hundred day moving average is $195.02. The firm has a market cap of $17.68 billion, a P/E ratio of 12.15, a P/E/G ratio of 0.82 and a beta of 1.05.

Credicorp Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, May 19th were given a dividend of $10.9577 per share. The ex-dividend date of this dividend was Monday, May 19th. This is an increase from Credicorp's previous annual dividend of $2.91. This represents a dividend yield of 4.5%. Credicorp's payout ratio is presently 59.87%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BAP. UBS Group reiterated 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 given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $211.00.

Credicorp 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.