Legal & General Group Plc Purchases New Position in Credicorp Ltd. $BAP

Legal & General Group Plc acquired a new position in shares of Credicorp Ltd. (NYSE:BAP) during the 2nd quarter, Holdings Channel reports. The fund acquired 584,503 shares of the bank’s stock, valued at approximately $227,711,000.

Other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in Credicorp in the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Credicorp in the 2nd quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Credicorp during the 1st quarter worth $40,000. Brown Brothers Harriman & Co. acquired a new stake in Credicorp during the 3rd quarter worth $35,000. Finally, Kestra Advisory Services LLC bought a new position in Credicorp during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BAP shares. UBS Group increased their price target on Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. JPMorgan Chase & Co. lowered Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a research report on Monday, June 15th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. The Goldman Sachs Group raised their target price on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Weiss Ratings lowered shares of Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, August 20th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $418.40.

Credicorp Trading Down 0.4%

Credicorp stock opened at $381.74 on Thursday. The firm has a 50-day moving average of $385.93 and a 200-day moving average of $354.37. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $36.03 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 0.75 and a beta of 0.90.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Friday, August 14th. The bank reported $7.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $0.02. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Credicorp had a return on equity of 20.52% and a net margin of 25.04%. On average, equities analysts expect that Credicorp Ltd. will post 29.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 7,307 shares in the company, valued at $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.90% of the stock is currently owned by company insiders.

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.