Ninety One North America Inc. Decreases Stake in Credicorp Ltd. $BAP

Ninety One North America Inc. reduced its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 206,849 shares of the bank’s stock after selling 2,691 shares during the quarter. Credicorp accounts for 2.3% of Ninety One North America Inc.’s portfolio, making the stock its 16th biggest holding. Ninety One North America Inc.’s holdings in Credicorp were worth $46,235,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BAP. SVB Wealth LLC bought a new stake in shares of Credicorp in the first quarter worth approximately $35,000. Cullen Frost Bankers Inc. bought a new stake in Credicorp in the 1st quarter worth approximately $40,000. Farther Finance Advisors LLC grew its position in Credicorp by 2,170.0% in the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the bank’s stock worth $44,000 after purchasing an additional 217 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Credicorp during the 1st quarter valued at $78,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Credicorp during the 1st quarter valued at $88,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Price Performance

NYSE:BAP opened at $266.46 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49. The business’s 50-day simple moving average is $254.21 and its two-hundred day simple moving average is $221.76. The stock has a market cap of $21.19 billion, a PE ratio of 12.63, a P/E/G ratio of 0.72 and a beta of 1.12. Credicorp Ltd. has a 52 week low of $165.51 and a 52 week high of $280.88.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, topping analysts’ consensus estimates of $5.73 by $0.51. Credicorp had a return on equity of 17.94% and a net margin of 23.22%.The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. As a group, analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BAP. Hsbc Global Res raised Credicorp to a “hold” rating in a report on Friday, September 5th. HSBC downgraded Credicorp from a “buy” rating to a “hold” rating and boosted their price target for the company from $225.00 to $255.00 in a research note on Friday, September 5th. UBS Group increased their price objective on shares of Credicorp from $257.00 to $318.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Citigroup boosted their target price on shares of Credicorp from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, Zacks Research upgraded shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $250.00.

Credicorp Company Profile

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.