SPX Gestao de Recursos Ltda Buys New Position in Credicorp Ltd. (NYSE:BAP)

SPX Gestao de Recursos Ltda bought a new stake in shares of Credicorp Ltd. (NYSE:BAP) in the third quarter, Holdings Channel reports. The firm bought 123,141 shares of the bank’s stock, valued at approximately $22,285,000. Credicorp comprises 2.9% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 9th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. World Investment Advisors LLC acquired a new position in Credicorp during the third quarter worth approximately $3,275,000. Sanctuary Advisors LLC increased its position in Credicorp by 16.9% during the third quarter. Sanctuary Advisors LLC now owns 1,467 shares of the bank’s stock worth $289,000 after buying an additional 212 shares during the period. TT International Asset Management LTD acquired a new position in Credicorp during the third quarter worth approximately $25,081,000. Barclays PLC increased its position in Credicorp by 3.3% during the third quarter. Barclays PLC now owns 218,733 shares of the bank’s stock worth $39,584,000 after buying an additional 6,988 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Credicorp during the third quarter worth approximately $42,794,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Trading Down 1.1 %

Shares of BAP stock traded down $2.20 during midday trading on Friday, hitting $190.58. The company had a trading volume of 87,032 shares, compared to its average volume of 233,936. The company’s 50 day simple moving average is $188.39 and its 200 day simple moving average is $175.36. Credicorp Ltd. has a 52-week low of $132.19 and a 52-week high of $200.00. The company has a current ratio of 1.07, a quick 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. Investors of record on Monday, September 23rd were paid a $2.9084 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a dividend yield of 3.8%. Credicorp’s dividend payout ratio (DPR) is presently 53.30%.

Analysts Set New Price Targets

Several research analysts have commented on BAP shares. 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 Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th.

About Credicorp

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.