Credicorp Ltd. (NYSE:BAP) Position Cut by Genesis Investment Management LLP

Genesis Investment Management LLP decreased its position in Credicorp Ltd. (NYSE:BAP) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 353,435 shares of the bank’s stock after selling 25,674 shares during the quarter. Credicorp accounts for approximately 12.4% of Genesis Investment Management LLP’s portfolio, making the stock its 2nd largest position. Genesis Investment Management LLP owned about 0.44% of Credicorp worth $63,961,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its position in shares of Credicorp by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,029,014 shares of the bank’s stock worth $488,671,000 after acquiring an additional 25,972 shares during the period. Baillie Gifford & Co. increased its position in shares of Credicorp by 22.0% during the second 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 period. Pzena Investment Management LLC increased its position in shares of Credicorp by 3.9% during the first quarter. Pzena Investment Management LLC now owns 933,764 shares of the bank’s stock worth $158,208,000 after acquiring an additional 35,167 shares during the period. ARGA Investment Management LP increased its position in shares of Credicorp by 5.1% during the first quarter. ARGA Investment Management LP now owns 769,315 shares of the bank’s stock worth $130,345,000 after acquiring an additional 37,370 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Credicorp by 1.4% during the first quarter. Vanguard Group Inc. now owns 753,205 shares of the bank’s stock worth $127,616,000 after acquiring an additional 10,527 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Stock Down 1.0 %

NYSE:BAP traded down $1.82 during trading hours on Wednesday, hitting $181.46. The company’s stock had a trading volume of 11,445 shares, compared to its average volume of 233,495. The stock has a market capitalization of $14.43 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 0.60 and a beta of 1.14. The stock has a fifty day moving average of $173.02 and a 200-day moving average of $168.64. 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 52-week low of $116.42 and a 52-week high of $186.36.

Credicorp (NYSE:BAP) last posted its earnings results on Thursday, August 8th. The bank reported $4.49 EPS for the quarter, missing the consensus estimate of $4.64 by ($0.15). Credicorp had a net margin of 19.31% and a return on equity of 14.86%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.32 billion. On average, equities analysts forecast that Credicorp Ltd. will post 18.86 earnings per share for the current year.

Credicorp Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 23rd will be paid a $2.9084 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a yield of 3.8%. Credicorp’s dividend payout ratio is presently 55.07%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group increased their target price on Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday.

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.