Legal & General Group Plc Boosts Stake in Credicorp Ltd. $BAP

Legal & General Group Plc lifted its holdings in Credicorp Ltd. (NYSE:BAP) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 586,488 shares of the bank’s stock after buying an additional 30,866 shares during the quarter. Legal & General Group Plc owned 0.74% of Credicorp worth $168,322,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BAP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Credicorp in the first quarter valued at approximately $78,000. Cetera Investment Advisers boosted its stake in shares of Credicorp by 36.3% in the second quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock valued at $399,000 after buying an additional 476 shares in the last quarter. State Street Corp boosted its stake in shares of Credicorp by 1.6% in the second quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock valued at $267,673,000 after buying an additional 19,361 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of Credicorp in the second quarter valued at approximately $355,000. Finally, Quantinno Capital Management LP boosted its stake in shares of Credicorp by 24.7% in the second quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock valued at $1,222,000 after buying an additional 1,083 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Stock Down 0.8%

BAP opened at $349.11 on Thursday. The business’s fifty day moving average is $331.67 and its two-hundred day moving average is $315.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $32.95 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.78 and a beta of 0.87. Credicorp Ltd. has a one year low of $206.32 and a one year high of $380.20.

Credicorp (NYSE:BAP) last posted its earnings results on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%.The company had revenue of $1.81 billion for the quarter. Analysts anticipate that Credicorp Ltd. will post 29.38 EPS for the current fiscal year.

Insider Activity

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s 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 sale, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Zacks Research downgraded Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings upgraded Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, May 15th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. The Goldman Sachs Group boosted their target price on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Finally, UBS Group boosted their target price on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $335.40.

Credicorp 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.