Cerity Partners LLC Increases Holdings in Credicorp Ltd. (NYSE:BAP)

Cerity Partners LLC increased its stake in Credicorp Ltd. (NYSE:BAP) by 3.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 3,068 shares of the bank’s stock after buying an additional 111 shares during the quarter. Cerity Partners LLC’s holdings in Credicorp were worth $555,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BAP. Massachusetts Financial Services Co. MA boosted its position in Credicorp by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,042,882 shares of the bank’s stock worth $550,670,000 after purchasing an additional 13,868 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Credicorp by 2.5% during the 3rd quarter. Baillie Gifford & Co. now owns 1,674,261 shares of the bank’s stock valued at $302,991,000 after buying an additional 41,409 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of Credicorp by 9.8% during the 3rd 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. Driehaus Capital Management LLC boosted its holdings in Credicorp by 78.8% in 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 during the period. Finally, Principal Financial Group Inc. grew its stake in Credicorp by 8.0% in the 3rd 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 in the last quarter. Institutional investors own 89.81% of the company’s stock.

Credicorp Price Performance

Credicorp stock opened at $190.48 on Friday. Credicorp Ltd. has a fifty-two week low of $122.72 and a fifty-two week high of $200.00. The stock’s 50 day simple moving average is $187.51 and its two-hundred day simple moving average is $174.64. 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 company also recently announced an annual dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 23rd were issued a $2.9084 dividend. This represents a yield of 3.8%. The ex-dividend date was Monday, September 23rd. Credicorp’s dividend payout ratio is 53.30%.

Wall Street Analysts Forecast Growth

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