Assetmark Inc. Boosts Position in Credicorp Ltd. (NYSE:BAP)

Assetmark Inc. lifted its position in Credicorp Ltd. (NYSE:BAP) by 4.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,481 shares of the bank’s stock after purchasing an additional 263 shares during the period. Assetmark Inc.’s holdings in Credicorp were worth $1,173,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BAP. The Goldman Sachs Group upped their target price on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on Credicorp from $200.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday.

Credicorp Stock Up 0.8 %

Shares of Credicorp stock opened at $188.56 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.54. Credicorp Ltd. has a 12-month low of $120.62 and a 12-month high of $193.25. The company has a market cap of $15.00 billion, a P/E ratio of 10.66, a PEG ratio of 0.64 and a beta of 1.14. The company’s fifty day simple moving average is $182.12 and its two-hundred day simple moving average is $171.93.

Credicorp Cuts Dividend

The company also recently announced an annual dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 23rd were paid a $2.9084 dividend. This represents a dividend yield of 3.8%. The ex-dividend date was Monday, September 23rd. Credicorp’s payout ratio is presently 53.24%.

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.