Principal Financial Group Inc. Has $77.53 Million Holdings in Credicorp Ltd. $BAP

Principal Financial Group Inc. boosted its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 42.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 291,175 shares of the bank’s stock after acquiring an additional 86,340 shares during the period. Principal Financial Group Inc. owned approximately 0.37% of Credicorp worth $77,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. MAI Capital Management lifted its holdings in shares of Credicorp by 5,300.0% during the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after purchasing an additional 159 shares in the last quarter. Raymond James Financial Inc. bought a new position in Credicorp in the second quarter valued at approximately $38,000. Spire Wealth Management acquired a new position in shares of Credicorp in the third quarter valued at approximately $42,000. Smartleaf Asset Management LLC boosted its holdings in shares of Credicorp by 37.1% in the second quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock valued at $55,000 after buying an additional 66 shares during the period. Finally, First Horizon Corp bought a new stake in shares of Credicorp during the third quarter worth $59,000. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Credicorp from $263.00 to $293.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. Wall Street Zen lowered Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their target price on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $290.20.

Credicorp Stock Performance

Shares of NYSE BAP opened at $375.36 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a 50 day moving average price of $300.56 and a 200 day moving average price of $270.97. The stock has a market capitalization of $29.86 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 0.81 and a beta of 0.87. Credicorp Ltd. has a 52 week low of $165.51 and a 52 week high of $380.20.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.05 by $0.12. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Credicorp had a return on equity of 19.50% and a net margin of 23.59%. Analysts predict that Credicorp Ltd. will post 21.9 earnings per share 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.