Fourth Sail Capital LP Purchases 97,500 Shares of Credicorp Ltd. $BAP

Fourth Sail Capital LP raised its stake in Credicorp Ltd. (NYSE:BAP) by 415.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,988 shares of the bank’s stock after acquiring an additional 97,500 shares during the quarter. Credicorp makes up approximately 5.6% of Fourth Sail Capital LP’s investment portfolio, making the stock its 3rd largest position. Fourth Sail Capital LP’s holdings in Credicorp were worth $34,724,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BAP. Capital World Investors bought a new position in shares of Credicorp in the third quarter worth about $434,014,000. Norges Bank bought a new position in shares of Credicorp in the fourth quarter worth about $150,814,000. William Blair Investment Management LLC lifted its holdings in shares of Credicorp by 71.6% in the third quarter. William Blair Investment Management LLC now owns 820,073 shares of the bank’s stock worth $218,369,000 after acquiring an additional 342,308 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Credicorp in the fourth quarter worth about $89,754,000. Finally, Mondrian Investment Partners LTD bought a new position in shares of Credicorp in the third quarter worth about $78,211,000. Institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the transaction, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This trade represents a 38.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is owned by company insiders.

Credicorp Stock Performance

Shares of BAP stock opened at $369.16 on Friday. The stock has a market capitalization of $34.84 billion, a PE ratio of 14.23, a PEG ratio of 0.80 and a beta of 0.89. Credicorp Ltd. has a one year low of $213.75 and a one year high of $380.20. The business’s 50 day simple moving average is $334.58 and its 200 day simple moving average is $322.80. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. The company had revenue of $1.81 billion during the quarter. As a group, research analysts forecast that Credicorp Ltd. will post 29.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on BAP shares. The Goldman Sachs Group increased their target price on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. UBS Group increased their target price on shares of Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings cut shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. JPMorgan Chase & Co. increased their target price on shares of Credicorp from $412.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $356.40.

Credicorp Company Profile

Credicorp Ltd. (NYSE: BAP) is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp’s principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.

Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.