Assenagon Asset Management S.A. Cuts Stock Position in Credicorp Ltd. (NYSE:BAP)

Assenagon Asset Management S.A. decreased its holdings in Credicorp Ltd. (NYSE:BAP) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,730 shares of the bank’s stock after selling 119 shares during the period. Assenagon Asset Management S.A.’s holdings in Credicorp were worth $322,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its holdings in Credicorp by 19.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 10,039 shares of the bank’s stock valued at $1,818,000 after buying an additional 1,658 shares during the period. Rhumbline Advisers lifted its position in Credicorp by 4.7% during the fourth quarter. Rhumbline Advisers now owns 16,139 shares of the bank’s stock valued at $2,959,000 after purchasing an additional 730 shares during the period. Principal Financial Group Inc. lifted its position in Credicorp by 12.2% during the fourth quarter. Principal Financial Group Inc. now owns 389,338 shares of the bank’s stock valued at $71,373,000 after purchasing an additional 42,255 shares during the period. Sanctuary Advisors LLC increased its holdings in Credicorp by 4.2% in the fourth quarter. Sanctuary Advisors LLC now owns 1,529 shares of the bank’s stock valued at $283,000 after buying an additional 62 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Credicorp by 37.8% during the fourth quarter. New York State Common Retirement Fund now owns 59,689 shares of the bank’s stock worth $10,942,000 after purchasing an additional 16,388 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BAP. UBS Group reiterated a “buy” rating on shares of Credicorp in a report on Monday, June 2nd. Wall Street Zen lowered shares of Credicorp from a “buy” rating to a “hold” rating in a report on Sunday, June 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Credicorp has a consensus rating of “Hold” and a consensus target price of $211.00.

Credicorp Trading Down 0.6%

NYSE BAP opened at $217.53 on Friday. The stock has a market cap of $17.30 billion, a P/E ratio of 11.83, a PEG ratio of 0.70 and a beta of 1.04. The company’s fifty day simple moving average is $203.66 and its 200-day simple moving average is $191.41. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. Credicorp Ltd. has a 52 week low of $153.27 and a 52 week high of $222.99.

Credicorp Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, May 19th were given a dividend of $10.9577 per share. The ex-dividend date was Monday, May 19th. This represents a dividend yield of 4.5%. This is a positive change from Credicorp’s previous annual dividend of $2.91. Credicorp’s dividend payout ratio is currently 59.87%.

About Credicorp

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.