Massachusetts Financial Services Co. MA Increases Stock Holdings in Credicorp Ltd. (NYSE:BAP)

Massachusetts Financial Services Co. MA lifted its stake in shares of Credicorp Ltd. (NYSE:BAP) by 0.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,042,882 shares of the bank’s stock after acquiring an additional 13,868 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Credicorp were worth $550,670,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Pzena Investment Management LLC raised its stake in Credicorp by 9.8% during the 3rd quarter. Pzena Investment Management LLC now owns 1,026,833 shares of the bank’s stock worth $185,826,000 after acquiring an additional 91,877 shares in the last quarter. NS Partners Ltd purchased a new position in shares of Credicorp during the third quarter worth about $10,894,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Credicorp during the third quarter worth about $249,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Credicorp by 3.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 189,177 shares of the bank’s stock valued at $34,235,000 after purchasing an additional 5,842 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its position in shares of Credicorp by 2.5% in the 3rd quarter. Baillie Gifford & Co. now owns 1,674,261 shares of the bank’s stock valued at $302,991,000 after purchasing an additional 41,409 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Trading Up 3.0 %

Shares of BAP stock opened at $198.65 on Friday. Credicorp Ltd. has a 52-week low of $122.72 and a 52-week high of $200.00. The stock’s 50-day moving average price is $184.55 and its 200 day moving average price is $173.01. 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 business 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. This represents a dividend yield of 3.8%. The ex-dividend date was Monday, September 23rd. Credicorp’s dividend payout ratio (DPR) is presently 53.30%.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group lifted their target price 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.