Credicorp Ltd. (NYSE:BAP) Stake Lifted by ARGA Investment Management LP

ARGA Investment Management LP increased its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 787,723 shares of the bank's stock after acquiring an additional 6,578 shares during the period. Credicorp makes up about 4.7% of ARGA Investment Management LP's holdings, making the stock its 8th largest holding. ARGA Investment Management LP owned about 0.99% of Credicorp worth $142,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Credicorp by 782.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,326,947 shares of the bank's stock valued at $240,138,000 after purchasing an additional 1,176,612 shares during the last quarter. Ninety One UK Ltd purchased a new position in Credicorp in the second quarter valued at $50,235,000. Baillie Gifford & Co. raised its stake in Credicorp by 22.0% in the second quarter. Baillie Gifford & Co. now owns 1,632,852 shares of the bank's stock valued at $263,428,000 after buying an additional 294,596 shares in the last quarter. Fourth Sail Capital LP purchased a new stake in Credicorp during the 2nd quarter worth about $44,156,000. Finally, FMR LLC boosted its position in shares of Credicorp by 6.1% during the 3rd quarter. FMR LLC now owns 3,446,621 shares of the bank's stock worth $623,735,000 after acquiring an additional 199,137 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Stock Performance

Shares of BAP stock traded down $5.82 during mid-day trading on Friday, hitting $185.47. 399,768 shares of the stock were exchanged, compared to its average volume of 216,850. The stock's fifty day simple moving average is $186.26 and its two-hundred day simple moving average is $173.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.07. Credicorp Ltd. has a 12-month low of $122.72 and a 12-month high of $200.00.

Credicorp Cuts Dividend

The company also recently declared an annual dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 23rd were paid a dividend of $2.9084 per share. The ex-dividend date was Monday, September 23rd. This represents a yield of 3.8%. Credicorp's dividend payout ratio is presently 53.30%.

Analysts Set New Price Targets

BAP has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on Credicorp from $200.00 to $219.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 12th. The Goldman Sachs Group raised their price objective on shares of Credicorp from $143.00 to $160.00 and gave the stock a "sell" rating in a report on Tuesday, October 8th.

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.