Citigroup Inc. Has $35.81 Million Stake in Credicorp Ltd. (NYSE:BAP)

Citigroup Inc. raised its stake in shares of Credicorp Ltd. (NYSE:BAP) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,889 shares of the bank’s stock after buying an additional 8,924 shares during the quarter. Citigroup Inc.’s holdings in Credicorp were worth $35,812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ninety One UK Ltd bought a new stake in Credicorp in the second quarter valued at approximately $50,235,000. Baillie Gifford & Co. raised its stake in Credicorp by 22.0% during the 2nd quarter. Baillie Gifford & Co. now owns 1,632,852 shares of the bank’s stock worth $263,428,000 after buying an additional 294,596 shares during the period. Fourth Sail Capital LP bought a new position in Credicorp during the second quarter worth about $44,156,000. Driehaus Capital Management LLC grew its stake in Credicorp by 78.8% in the second quarter. Driehaus Capital Management LLC now owns 358,784 shares of the bank’s stock valued at $57,883,000 after acquiring an additional 158,175 shares during the period. Finally, Carrhae Capital LLP bought a new stake in shares of Credicorp in the third quarter worth about $27,974,000. 89.81% of the stock is owned by institutional investors.

Credicorp Price Performance

BAP stock opened at $197.32 on Monday. The business has a 50-day moving average of $184.99 and a 200-day moving average of $173.20. Credicorp Ltd. has a fifty-two week low of $122.72 and a fifty-two week high of $200.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.66.

Credicorp Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 23rd were paid 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%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on 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 price target on shares of Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, October 8th.

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.