Credicorp Ltd. $BAP Stock: Ninety One North America Inc. Raises Stake

Ninety One North America Inc. increased its stake in Credicorp Ltd. (NYSE:BAP) by 23.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,216 shares of the bank’s stock after purchasing an additional 21,918 shares during the quarter. Credicorp accounts for 2.2% of Ninety One North America Inc.’s portfolio, making the stock its 14th largest position. Ninety One North America Inc.’s holdings in Credicorp were worth $44,147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BAP. Amundi boosted its stake in shares of Credicorp by 26.4% in the 2nd quarter. Amundi now owns 535,235 shares of the bank’s stock worth $208,517,000 after buying an additional 111,785 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Credicorp in the first quarter worth $1,800,000. Ashoka WhiteOak Capital Pte Ltd purchased a new stake in Credicorp during the second quarter valued at $3,611,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Credicorp during the second quarter valued at $3,857,000. Finally, Trillium Asset Management LLC purchased a new stake in Credicorp during the second quarter valued at $6,065,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BAP shares. JPMorgan Chase & Co. raised Credicorp from a “neutral” rating to an “overweight” rating and increased their target price for the company from $453.00 to $482.00 in a report on Wednesday, September 16th. The Goldman Sachs Group boosted their price target on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. UBS Group upped their price target on shares of Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 9th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $431.80.

Credicorp Stock Performance

Shares of Credicorp stock traded up $6.75 on Thursday, hitting $390.69. 157,579 shares of the company’s stock were exchanged, compared to its average volume of 418,445. The company has a 50-day simple moving average of $379.71 and a 200-day simple moving average of $364.55. The stock has a market capitalization of $36.87 billion, a PE ratio of 14.47, a PEG ratio of 0.74 and a beta of 0.92. Credicorp Ltd. has a 1 year low of $230.45 and a 1 year high of $413.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00.

Credicorp Company Profile

Credicorp Ltd. (NYSE: BAP) is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, investment management, pension administration and investment banking services to individuals, businesses and institutional clients.

Its principal businesses include Banco de Crédito del Perú, one of Peru’s leading banks; Mibanco, which focuses on microfinance and small-business lending; Pacífico Seguros, an insurance provider; Prima AFP, which manages private pension accounts; and Credicorp Capital, which offers investment banking, asset management, brokerage and related capital-markets services.

Credicorp’s operations are centered primarily in Peru, with selected investment banking and capital-markets activities serving clients elsewhere in the Latin American region.