ARGA Investment Management LP Takes $109.74 Million Position in Credicorp Ltd. (NYSE:BAP)

ARGA Investment Management LP purchased a new stake in Credicorp Ltd. (NYSE:BAP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 731,945 shares of the bank's stock, valued at approximately $109,741,000. Credicorp comprises 3.8% of ARGA Investment Management LP's portfolio, making the stock its 10th biggest position. ARGA Investment Management LP owned 0.92% of Credicorp at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BAP. CWM LLC grew its stake in Credicorp by 69.2% in the fourth quarter. CWM LLC now owns 225 shares of the bank's stock valued at $34,000 after acquiring an additional 92 shares during the period. Blue Trust Inc. raised its holdings in Credicorp by 7.7% during the 4th quarter. Blue Trust Inc. now owns 1,396 shares of the bank's stock worth $209,000 after buying an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Credicorp by 7.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,837 shares of the bank's stock valued at $275,000 after buying an additional 134 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Credicorp by 24.3% in the fourth quarter. Signaturefd LLC now owns 746 shares of the bank's stock valued at $112,000 after buying an additional 146 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Credicorp by 8.1% during the third quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the bank's stock worth $276,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BAP. UBS Group reduced their target price on shares of Credicorp from $192.00 to $190.00 and set a "buy" rating for the company in a research note on Monday, February 5th. JPMorgan Chase & Co. upped their price objective on Credicorp from $190.00 to $194.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $181.73.

Credicorp Stock Down 0.5 %

BAP traded down $0.93 during trading hours on Thursday, hitting $172.63. 143,186 shares of the company's stock were exchanged, compared to its average volume of 240,211. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.57 and a beta of 1.12. Credicorp Ltd. has a 1-year low of $116.42 and a 1-year high of $180.21. The stock's 50-day moving average is $169.87 and its two-hundred day moving average is $153.50. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.44.

Credicorp Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, May 20th will be paid a dividend of $9.4084 per share. This represents a dividend yield of 3.8%. This is an increase from Credicorp's previous annual dividend of $6.74. The ex-dividend date is Friday, May 17th. Credicorp's dividend payout ratio is currently 40.18%.

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.