Citigroup Inc. Acquires 8,924 Shares of Credicorp Ltd. (NYSE:BAP)

Citigroup Inc. increased its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 197,889 shares of the bank’s stock after acquiring an additional 8,924 shares during the quarter. Citigroup Inc.’s holdings in Credicorp were worth $35,812,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ninety One UK Ltd acquired a new position in shares of Credicorp during the 2nd quarter worth approximately $50,235,000. Baillie Gifford & Co. boosted its stake in shares of 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 during the period. Fourth Sail Capital LP acquired a new stake in Credicorp during the second quarter worth approximately $44,156,000. Driehaus Capital Management LLC increased 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 during the period. Finally, Carrhae Capital LLP bought a new position in Credicorp during the 3rd quarter worth $27,974,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BAP shares. The Goldman Sachs Group increased 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. JPMorgan Chase & Co. increased their price objective on shares of Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th.

Credicorp Price Performance

Shares of BAP opened at $197.32 on Monday. The firm has a 50 day simple moving average of $184.99 and a two-hundred day simple moving average of $173.20. Credicorp Ltd. has a one year low of $122.72 and a one year high of $200.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.07.

Credicorp Cuts Dividend

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

Credicorp 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.