Artisan Partners Limited Partnership Sells 19,572 Shares of Credicorp Ltd. $BAP

Artisan Partners Limited Partnership reduced its position in shares of Credicorp Ltd. (NYSE:BAP) by 15.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,934 shares of the bank’s stock after selling 19,572 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Credicorp were worth $27,942,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. R Squared Ltd increased its stake in shares of Credicorp by 34.4% during the third quarter. R Squared Ltd now owns 4,485 shares of the bank’s stock valued at $1,194,000 after buying an additional 1,149 shares during the period. DNB Asset Management AS lifted its stake in Credicorp by 34.7% in the third quarter. DNB Asset Management AS now owns 21,199 shares of the bank’s stock worth $5,645,000 after acquiring an additional 5,462 shares during the period. Choreo LLC grew its holdings in Credicorp by 16.3% during the 3rd quarter. Choreo LLC now owns 4,274 shares of the bank’s stock worth $1,138,000 after acquiring an additional 600 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Credicorp by 9.4% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 70,885 shares of the bank’s stock valued at $18,875,000 after purchasing an additional 6,081 shares during the period. Finally, TD Asset Management Inc bought a new stake in shares of Credicorp in the 3rd quarter valued at about $486,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BAP has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Zacks Research cut Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. The Goldman Sachs Group boosted their price target on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. raised their price objective on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.60.

Credicorp Price Performance

NYSE BAP opened at $347.17 on Friday. The firm’s fifty day simple moving average is $327.96 and its two-hundred day simple moving average is $284.40. The firm has a market capitalization of $27.61 billion, a P/E ratio of 14.28, a P/E/G ratio of 0.79 and a beta of 0.87. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $380.20.

Credicorp (NYSE:BAP) last issued its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 21.54%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

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.