Credicorp Ltd. (NYSE:BAP) Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in shares of Credicorp Ltd. (NYSE:BAP) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 169,349 shares of the bank’s stock after selling 3,827 shares during the quarter. Wellington Management Group LLP’s holdings in Credicorp were worth $30,647,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BAP. Brown Brothers Harriman & Co. bought a new position in Credicorp during the third quarter valued at about $58,000. Headlands Technologies LLC acquired a new stake in Credicorp in the 2nd quarter valued at about $84,000. Atlas Capital Advisors LLC boosted its position in shares of Credicorp by 14.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 687 shares of the bank’s stock valued at $111,000 after purchasing an additional 89 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of Credicorp in the 3rd quarter worth approximately $216,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Credicorp in the 2nd quarter worth approximately $210,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Stock Performance

Shares of BAP opened at $192.80 on Friday. Credicorp Ltd. has a one year low of $124.51 and a one year high of $200.00. The company has a 50-day moving average of $188.16 and a two-hundred day moving average of $175.23. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.65 and a beta of 1.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 1.07.

Credicorp Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 23rd were paid a $2.9084 dividend. This represents a yield of 3.8%. The ex-dividend date was Monday, September 23rd. Credicorp’s dividend payout ratio is 53.24%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BAP. The Goldman Sachs Group raised their target price on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price objective on Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th.

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.