19,133 Shares in Credicorp Ltd. $BAP Acquired by Man Group plc

Man Group plc purchased a new stake in shares of Credicorp Ltd. (NYSE:BAP) during the 2nd quarter, Holdings Channel reports. The fund purchased 19,133 shares of the bank’s stock, valued at approximately $7,454,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Credicorp during the 2nd quarter worth approximately $1,933,666,000. Capital World Investors lifted its holdings in Credicorp by 34.7% in the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after buying an additional 565,490 shares during the period. Royal Bank of Canada lifted its holdings in Credicorp by 0.8% in the first quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock valued at $584,042,000 after buying an additional 13,249 shares during the period. Invesco Ltd. boosted its stake in Credicorp by 2.3% in the fourth quarter. Invesco Ltd. now owns 1,380,791 shares of the bank’s stock valued at $396,287,000 after acquiring an additional 31,383 shares during the last quarter. Finally, State Street Corp grew its holdings in Credicorp by 5.5% during the 4th quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock worth $383,685,000 after acquiring an additional 69,329 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Trading Down 1.0%

Shares of NYSE:BAP opened at $369.53 on Friday. The company’s 50-day moving average price is $385.48 and its two-hundred day moving average price is $354.60. 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 stock has a market capitalization of $34.88 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.72 and a beta of 0.90.

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

Insiders Place Their Bets

In other 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 transaction, the chief executive officer owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and upped their price objective for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. UBS Group boosted their target price on Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. The Goldman Sachs Group lifted their price objective on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. cut shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a report on Monday, June 15th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $418.40.

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.