Pzena Investment Management LLC Raises Stock Position in Credicorp Ltd. (NYSE:BAP)

Pzena Investment Management LLC increased its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,026,833 shares of the bank’s stock after acquiring an additional 91,877 shares during the period. Pzena Investment Management LLC’s holdings in Credicorp were worth $185,826,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BAP. Massachusetts Financial Services Co. MA lifted its holdings in shares of Credicorp by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,029,014 shares of the bank’s stock worth $488,671,000 after acquiring an additional 25,972 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Credicorp by 2.5% in the third quarter. Baillie Gifford & Co. now owns 1,674,261 shares of the bank’s stock worth $302,991,000 after buying an additional 41,409 shares during the period. Vanguard Group Inc. boosted its holdings in Credicorp by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 753,205 shares of the bank’s stock valued at $127,616,000 after acquiring an additional 10,527 shares during the period. Driehaus Capital Management LLC grew its position in shares of Credicorp by 78.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 358,784 shares of the bank’s stock worth $57,883,000 after buying an additional 158,175 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Credicorp by 8.0% during the third quarter. Principal Financial Group Inc. now owns 347,083 shares of the bank’s stock valued at $62,812,000 after buying an additional 25,742 shares during the period. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

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

Credicorp Trading Down 1.1 %

Shares of BAP stock traded down $2.10 on Wednesday, hitting $191.38. The company had a trading volume of 91,768 shares, compared to its average volume of 228,756. Credicorp Ltd. has a twelve month low of $122.72 and a twelve month high of $196.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50-day moving average price of $183.68 and a 200-day moving average price of $172.69.

Credicorp Cuts Dividend

The company also recently announced 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 dividend yield of 3.8%. The ex-dividend date was Monday, September 23rd. Credicorp’s dividend payout ratio is currently 53.30%.

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.