Hermes Investment Management Ltd. Acquires 166,942 Shares of Credicorp Ltd. (BAP)
Hermes Investment Management Ltd. raised its stake in Credicorp Ltd. (NYSE:BAP) by 95.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 342,444 shares of the bank’s stock after buying an additional 166,942 shares during the period. Hermes Investment Management Ltd. owned 0.43% of Credicorp worth $55,921,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in BAP. Legato Capital Management LLC raised its stake in Credicorp by 16,230.0% in the first quarter. Legato Capital Management LLC now owns 2,857,750 shares of the bank’s stock valued at $17,500,000 after buying an additional 2,840,250 shares in the last quarter. Morgan Stanley raised its stake in shares of Credicorp by 5.2% in the third quarter. Morgan Stanley now owns 2,462,634 shares of the bank’s stock worth $374,861,000 after buying an additional 121,424 shares in the last quarter. State Street Corp raised its stake in shares of Credicorp by 2.1% in the fourth quarter. State Street Corp now owns 1,698,829 shares of the bank’s stock worth $268,179,000 after buying an additional 34,265 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Credicorp by 12.4% in the third quarter. Nordea Investment Management AB now owns 1,299,181 shares of the bank’s stock worth $197,761,000 after buying an additional 142,940 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Credicorp by 14.7% in the fourth quarter. FMR LLC now owns 1,152,352 shares of the bank’s stock worth $181,910,000 after buying an additional 147,360 shares in the last quarter. 63.91% of the stock is currently owned by institutional investors.
Shares of Credicorp Ltd. (NYSE:BAP) traded down 1.67% during trading on Friday, hitting $152.96. 144,580 shares of the stock were exchanged. Credicorp Ltd. has a 52 week low of $133.66 and a 52 week high of $173.79. The stock’s 50 day moving average price is $161.25 and its 200 day moving average price is $158.74. The firm’s market capitalization is $12.16 billion.
The business also recently disclosed an annual dividend, which will be paid on Friday, May 12th. Shareholders of record on Tuesday, April 18th will be issued a $3.7637 dividend. The ex-dividend date is Thursday, April 13th. This is a positive change from Credicorp’s previous annual dividend of $2.32. This represents a yield of 2.27%. Credicorp’s dividend payout ratio is 17.79%.
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BAP has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Credicorp from a “hold” rating to a “buy” rating and set a $176.00 target price on the stock in a research report on Monday, December 26th. Credit Suisse Group AG restated a “buy” rating and issued a $196.00 target price on shares of Credicorp in a research report on Wednesday, February 8th.
Credicorp Ltd. is a financial services holding company in Peru. The Company has four operating segments based on its products and services, which include banking, insurance, pension funds and investment banking. Its operating subsidiaries include Banco de Credito del Peru; Atlantic Security Bank, which it holds through Atlantic Security Holding Corporation; El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros (Grupo Pacifico); Prima AFP SA, and Credicorp Capital Ltd.
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