Credicorp Ltd. (NYSE:BAP) Stock Position Boosted by Cape Ann Asset Management Ltd

Key Points

• Cape Ann Asset Management Ltd increased its holdings in Credicorp Ltd. by 34.6%, owning 217,078 shares worth approximately $36.78 million, making it the fund's 2nd largest stock investment.
• Credicorp's stock recently announced a significant dividend increase, with an annual payout of $10.9577 per share, reflecting a dividend yield of 4.5%.
• Analysts have mixed opinions on Credicorp, with ratings varying from a recent downgrade to "hold" by Wall Street Zen, while Goldman Sachs upgraded it to "neutral" with a revised price target of $225.

Cape Ann Asset Management Ltd grew its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 34.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 217,078 shares of the bank's stock after buying an additional 55,800 shares during the quarter. Credicorp accounts for approximately 27.6% of Cape Ann Asset Management Ltd's portfolio, making the stock its 2nd biggest position. Cape Ann Asset Management Ltd owned approximately 0.27% of Credicorp worth $36,780,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. lifted its stake in Credicorp by 4.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,628 shares of the bank's stock worth $298,000 after purchasing an additional 67 shares during the last quarter. Fiduciary Trust Co lifted its stake in Credicorp by 4.3% in the fourth quarter. Fiduciary Trust Co now owns 1,939 shares of the bank's stock valued at $356,000 after buying an additional 80 shares during the last quarter. Synovus Financial Corp lifted its stake in Credicorp by 1.7% in the fourth quarter. Synovus Financial Corp now owns 4,940 shares of the bank's stock valued at $906,000 after buying an additional 81 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Credicorp by 3.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,748 shares of the bank's stock valued at $504,000 after buying an additional 90 shares during the last quarter. Finally, Deltec Asset Management LLC lifted its stake in Credicorp by 4.3% in the first quarter. Deltec Asset Management LLC now owns 2,400 shares of the bank's stock valued at $447,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Price Performance

BAP stock traded down $1.99 on Friday, reaching $235.13. 144,421 shares of the company's stock were exchanged, compared to its average volume of 318,162. The stock has a fifty day moving average of $218.43 and a 200-day moving average of $198.47. Credicorp Ltd. has a twelve month low of $153.27 and a twelve month high of $240.00. The firm has a market cap of $18.70 billion, a PE ratio of 12.79, a P/E/G ratio of 0.84 and a beta of 1.05. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.49.

Credicorp Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were issued a dividend of $10.9577 per share. This represents a yield of 4.5%. The ex-dividend date was Monday, May 19th. This is a positive change from Credicorp's previous annual dividend of $2.91. Credicorp's dividend payout ratio is currently 59.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BAP. Wall Street Zen cut Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. The Goldman Sachs Group raised Credicorp from a "strong sell" rating to a "hold" rating and boosted their target price for the company from $174.00 to $225.00 in a report on Thursday. Finally, UBS Group reissued a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Credicorp presently has an average rating of "Hold" and an average target price of $227.25.

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.