Massachusetts Financial Services Co. MA Increases Stock Position in Credicorp Ltd. (NYSE:BAP)

Massachusetts Financial Services Co. MA raised its stake in shares of Credicorp Ltd. (NYSE:BAP) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,042,882 shares of the bank’s stock after acquiring an additional 13,868 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Credicorp were worth $550,670,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Baillie Gifford & Co. increased its holdings in Credicorp by 2.5% in the 3rd quarter. Baillie Gifford & Co. now owns 1,674,261 shares of the bank’s stock valued at $302,991,000 after purchasing an additional 41,409 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Credicorp by 9.8% in the third quarter. Pzena Investment Management LLC now owns 1,026,833 shares of the bank’s stock valued at $185,826,000 after buying an additional 91,877 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Credicorp by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 753,205 shares of the bank’s stock valued at $127,616,000 after buying an additional 10,527 shares during the period. Driehaus Capital Management LLC lifted its stake in 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 acquiring an additional 158,175 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Credicorp by 8.0% during the 3rd quarter. Principal Financial Group Inc. now owns 347,083 shares of the bank’s stock valued at $62,812,000 after acquiring an additional 25,742 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Price Performance

NYSE:BAP opened at $198.65 on Friday. The stock has a fifty day moving average price of $184.55 and a 200 day moving average price of $173.01. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. Credicorp Ltd. has a 12-month low of $122.72 and a 12-month high of $200.00.

Credicorp Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, October 18th. Stockholders 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 payout ratio is presently 53.30%.

Analysts Set New Price Targets

A number of analysts have issued reports on BAP shares. The Goldman Sachs Group boosted their price target on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Credicorp from $200.00 to $219.00 and gave the company an “overweight” rating in a report 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.