Wealthquest Corp Makes New Investment in Credicorp Ltd. (NYSE:BAP)

Key Points

• Wealthquest Corp has acquired a new stake in Credicorp Ltd. by purchasing 3,913 shares valued at approximately $728,000 during the first quarter of the year.
• Several institutional investors have adjusted their stakes in Credicorp, with hedge funds now owning 89.81% of the company's stock.
• Credicorp has declared an annual dividend of $10.9577 per share, significantly increasing from the previous dividend of $2.91, representing a yield of 450.0%.

Wealthquest Corp bought a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,913 shares of the bank's stock, valued at approximately $728,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. LPL Financial LLC lifted its holdings in shares of Credicorp by 44.4% in the 4th quarter. LPL Financial LLC now owns 4,419 shares of the bank's stock worth $810,000 after acquiring an additional 1,358 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Credicorp by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 659,904 shares of the bank's stock worth $120,974,000 after acquiring an additional 19,145 shares during the last quarter. Norges Bank bought a new stake in shares of Credicorp in the 4th quarter worth about $84,213,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Credicorp by 11.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 8,970 shares of the bank's stock worth $1,644,000 after acquiring an additional 910 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Credicorp by 30.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,835 shares of the bank's stock worth $2,536,000 after acquiring an additional 3,232 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on BAP shares. Wall Street Zen downgraded shares of Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and raised their price target for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. Finally, UBS Group reissued a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $227.25.

Credicorp Price Performance

NYSE BAP traded up $3.34 on Monday, hitting $239.84. The company had a trading volume of 95,690 shares, compared to its average volume of 310,278. The company has a market capitalization of $19.08 billion, a PE ratio of 13.04, a PEG ratio of 0.84 and a beta of 1.09. The company's fifty day moving average price is $221.97 and its 200-day moving average price is $200.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.03 and a quick ratio of 1.03. Credicorp Ltd. has a 12-month low of $153.27 and a 12-month high of $241.29.

Credicorp Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were issued a $10.9577 dividend. This represents a yield of 450.0%. The ex-dividend date of this dividend was Monday, May 19th. This is a boost from Credicorp's previous annual dividend of $2.91. Credicorp's payout ratio is presently 59.87%.

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.