Legal & General Group Plc Raises Stock Holdings in Credicorp Ltd. $BAP

Legal & General Group Plc grew its stake in Credicorp Ltd. (NYSE:BAP) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 586,488 shares of the bank’s stock after acquiring an additional 30,866 shares during the quarter. Legal & General Group Plc’s holdings in Credicorp were worth $168,322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Credicorp by 42.2% in the third quarter. Principal Financial Group Inc. now owns 291,175 shares of the bank’s stock valued at $77,534,000 after acquiring an additional 86,340 shares in the last quarter. Sovran Advisors LLC purchased a new stake in shares of Credicorp in the fourth quarter valued at $1,358,000. Marshall Financial Group LLC purchased a new stake in shares of Credicorp in the fourth quarter valued at $912,000. Causeway Capital Management LLC increased its stake in Credicorp by 11.9% in the third quarter. Causeway Capital Management LLC now owns 215,628 shares of the bank’s stock valued at $57,417,000 after purchasing an additional 22,870 shares during the last quarter. Finally, Candriam S.C.A. increased its stake in Credicorp by 146.3% in the third quarter. Candriam S.C.A. now owns 168,390 shares of the bank’s stock valued at $44,839,000 after purchasing an additional 100,030 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BAP. Weiss Ratings upgraded Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, May 15th. UBS Group upped their target price on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and upped their target price for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, The Goldman Sachs Group upped their target price on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $335.40.

Credicorp Stock Performance

Credicorp stock opened at $349.11 on Thursday. The firm has a market capitalization of $32.95 billion, a P/E ratio of 13.46, a PEG ratio of 0.78 and a beta of 0.87. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $331.67 and a 200 day moving average price of $315.88. Credicorp Ltd. has a 52 week low of $206.32 and a 52 week high of $380.20.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. The company had revenue of $1.81 billion during the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. Equities research analysts anticipate that Credicorp Ltd. will post 29.38 earnings per share for the current year.

Insider Buying and Selling

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the sale, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.90% of the stock is owned by corporate insiders.

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.