Credicorp Ltd. (NYSE:BAP) Shares Bought by R Squared Ltd

Key Points

• R Squared Ltd has significantly increased its investment in Credicorp Ltd. by 233.0%, now holding shares worth $583,000.
• Several hedge funds, including Wealthquest Corp and Allianz Asset Management GmbH, have also boosted their stakes in Credicorp during the first quarter.
• Credicorp recently raised its annual dividend to $10.9577 per share, a significant increase from its previous dividend of $2.91, reflecting a dividend yield of 450.0%.

R Squared Ltd raised its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 233.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,130 shares of the bank's stock after buying an additional 2,190 shares during the quarter. R Squared Ltd's holdings in Credicorp were worth $583,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of BAP. FMR LLC grew its stake in shares of 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 period. Massachusetts Financial Services Co. MA boosted its position in shares of Credicorp by 0.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,032,656 shares of the bank's stock worth $564,559,000 after buying an additional 7,692 shares in the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Credicorp by 243.8% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank's stock worth $290,920,000 after buying an additional 1,217,368 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Credicorp by 59.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 757,271 shares of the bank's stock worth $138,824,000 after buying an additional 282,869 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Credicorp by 2.9% in the 4th quarter. Lazard Asset Management LLC now owns 747,720 shares of the bank's stock worth $137,070,000 after buying an additional 20,785 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Trading Up 0.3%

BAP traded up $0.62 on Wednesday, reaching $242.62. 193,396 shares of the company's stock were exchanged, compared to its average volume of 311,794. The company's 50 day moving average is $223.38 and its 200-day moving average is $201.04. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.86 and a beta of 1.09. Credicorp Ltd. has a twelve month low of $160.35 and a twelve month high of $249.63. 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 Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, May 19th were given a $10.9577 dividend. This represents a yield of 450.0%. This is a positive change from Credicorp's previous annual dividend of $2.91. The ex-dividend date of this dividend was Monday, May 19th. Credicorp's dividend payout ratio is 59.87%.

Analysts Set New Price Targets

BAP has been the topic of several recent research reports. UBS Group reiterated a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. Wall Street Zen lowered shares of Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Finally, The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and upped their target price for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Credicorp has a consensus rating of "Hold" and an average target price 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.