Legato Capital Management LLC Raises Stake in Credicorp Ltd. (BAP)
Legato Capital Management LLC increased its position in Credicorp Ltd. (NYSE:BAP) by 16,230.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,857,750 shares of the bank’s stock after buying an additional 2,840,250 shares during the period. Credicorp accounts for approximately 0.4% of Legato Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Legato Capital Management LLC’s holdings in Credicorp were worth $17,500,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in Credicorp during the fourth quarter worth approximately $81,179,000. BlackRock Fund Advisors boosted its stake in Credicorp by 15.8% in the third quarter. BlackRock Fund Advisors now owns 1,604,290 shares of the bank’s stock worth $244,205,000 after buying an additional 219,123 shares in the last quarter. FMR LLC boosted its stake in 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. Nordea Investment Management AB boosted its stake in 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, Morgan Stanley boosted its stake in 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. Hedge funds and other institutional investors own 63.91% of the company’s stock.
Credicorp Ltd. (NYSE:BAP) traded down 1.26% during trading on Tuesday, reaching $153.15. The company had a trading volume of 231,496 shares. Credicorp Ltd. has a 12 month low of $133.66 and a 12 month high of $173.79. The stock has a 50 day moving average of $162.32 and a 200-day moving average of $158.80. The company’s market capitalization is $12.17 billion.
The firm also recently declared an annual dividend, which will be paid on Friday, May 12th. Investors of record on Tuesday, April 18th will be given a dividend of $3.7637 per share. This represents a yield of 2.27%. This is a positive change from Credicorp’s previous annual dividend of $2.32. The ex-dividend date is Thursday, April 13th. Credicorp’s payout ratio is presently 17.79%.
Several analysts have commented on BAP shares. Credit Suisse Group AG restated a “buy” rating and issued a $196.00 price target on shares of Credicorp in a report on Wednesday, February 8th. Zacks Investment Research upgraded Credicorp from a “hold” rating to a “buy” rating and set a $176.00 price target for the company in a report on Monday, December 26th.
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.
Want to see what other hedge funds are holding BAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credicorp Ltd. (NYSE:BAP).
Receive News & Ratings for Credicorp Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credicorp Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.