Carrhae Capital LLP Makes New $27.97 Million Investment in Credicorp Ltd. (NYSE:BAP)

Carrhae Capital LLP bought a new stake in Credicorp Ltd. (NYSE:BAP) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 154,577 shares of the bank’s stock, valued at approximately $27,974,000. Credicorp makes up approximately 3.2% of Carrhae Capital LLP’s holdings, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Credicorp in the second quarter valued at $84,000. Atlas Capital Advisors LLC increased its stake in shares of Credicorp by 14.9% in the second quarter. Atlas Capital Advisors LLC now owns 687 shares of the bank’s stock valued at $111,000 after buying an additional 89 shares in the last quarter. Janiczek Wealth Management LLC increased its stake in shares of Credicorp by 7.8% in the first quarter. Janiczek Wealth Management LLC now owns 1,050 shares of the bank’s stock valued at $178,000 after buying an additional 76 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Credicorp in the second quarter valued at $210,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Credicorp in the third quarter valued at $216,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Price Performance

Shares of BAP stock opened at $190.60 on Monday. The stock has a 50-day moving average price of $176.31 and a 200 day moving average price of $169.55. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.54. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.62 and a beta of 1.14. Credicorp Ltd. has a 12 month low of $116.42 and a 12 month high of $190.72.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Thursday, August 8th. The bank reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($0.15). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.32 billion. Credicorp had a return on equity of 14.86% and a net margin of 19.31%. Research analysts expect that Credicorp Ltd. will post 18.86 EPS for the current year.

Credicorp Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 23rd were given a $2.9084 dividend. The ex-dividend date was Monday, September 23rd. This represents a yield of 3.8%. Credicorp’s payout ratio is 55.07%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised 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.

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.