Credicorp Ltd. $BAP Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Credicorp Ltd. (NYSE:BAP) by 98.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 579,231 shares of the bank’s stock after purchasing an additional 288,056 shares during the quarter. Principal Financial Group Inc. owned 0.73% of Credicorp worth $166,239,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BAP. Capital World Investors acquired a new position in shares of Credicorp during the 3rd quarter valued at $434,014,000. William Blair Investment Management LLC increased its position in shares of Credicorp by 71.6% during the 3rd quarter. William Blair Investment Management LLC now owns 820,073 shares of the bank’s stock valued at $218,369,000 after purchasing an additional 342,308 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Credicorp during the 4th quarter valued at $89,754,000. Mondrian Investment Partners LTD acquired a new position in shares of Credicorp during the 3rd quarter valued at $78,211,000. Finally, Invesco Ltd. increased its position in shares of Credicorp by 27.4% during the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock valued at $359,320,000 after purchasing an additional 290,585 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on BAP. Zacks Research cut Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. The Goldman Sachs Group lifted their price target on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Finally, UBS Group lifted their price target on Credicorp from $318.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Credicorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.60.

Credicorp Stock Performance

Shares of Credicorp stock opened at $318.60 on Wednesday. The stock has a market cap of $30.07 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 0.72 and a beta of 0.87. The business has a fifty day simple moving average of $335.41 and a 200-day simple moving average of $307.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a 12 month low of $193.13 and a 12 month high of $380.20.

Credicorp (NYSE:BAP) last issued its earnings results on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. The business had revenue of $1.81 billion during the quarter. Credicorp had a return on equity of 20.43% and a net margin of 24.53%. On average, sell-side analysts anticipate that Credicorp Ltd. will post 29.09 EPS for the current fiscal year.

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.