Global Retirement Partners LLC Invests $1.33 Million in Credicorp Ltd. $BAP

Global Retirement Partners LLC bought a new position in shares of Credicorp Ltd. (NYSE:BAP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 3,420 shares of the bank’s stock, valued at approximately $1,332,000.

A number of other large investors have also made changes to their positions in BAP. Novem Group acquired a new position in Credicorp in the fourth quarter valued at about $1,189,000. M&T Bank Corp purchased a new position in shares of Credicorp in the 4th quarter valued at about $1,403,000. Principal Financial Group Inc. lifted its stake in Credicorp by 98.9% in the fourth quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock worth $166,239,000 after acquiring an additional 288,056 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Credicorp by 24.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 363,084 shares of the bank’s stock valued at $104,265,000 after buying an additional 71,847 shares during the last quarter. Finally, Kestra Private Wealth Services LLC purchased a new position in shares of Credicorp in the 4th quarter valued at about $1,119,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a research note on Monday, June 15th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. The Goldman Sachs Group increased their target price on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and lifted their target price for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Finally, Weiss Ratings raised shares of Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $384.33.

Credicorp Trading Down 2.3%

Shares of NYSE BAP opened at $377.57 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a 52-week low of $230.45 and a 52-week high of $413.24. The stock’s 50 day moving average price is $384.39 and its two-hundred day moving average price is $353.73. The stock has a market capitalization of $35.64 billion, a P/E ratio of 13.99, a PEG ratio of 0.84 and a beta of 0.90.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Thursday, August 13th. The bank reported $7.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $0.02. Credicorp had a net margin of 25.04% and a return on equity of 21.09%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.82 billion. On average, analysts anticipate that Credicorp Ltd. will post 29.52 earnings per share for the current fiscal year.

Insider Activity at Credicorp

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the completion of the transaction, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. This trade represents a 38.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is owned by company 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.