Jupiter Topco LLC Makes New $18.63 Million Investment in Credicorp Ltd. $BAP

Jupiter Topco LLC bought a new position in Credicorp Ltd. (NYSE:BAP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 47,792 shares of the bank’s stock, valued at approximately $18,626,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Credicorp during the first quarter worth about $78,000. Cetera Investment Advisers lifted its position in shares of Credicorp by 36.3% during the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock worth $399,000 after buying an additional 476 shares in the last quarter. State Street Corp boosted its stake in shares of Credicorp by 1.6% in the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after buying an additional 19,361 shares during the last quarter. Nebula Research & Development LLC purchased a new position in shares of Credicorp in the 2nd quarter worth approximately $355,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Credicorp by 24.7% in the second quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock valued at $1,222,000 after acquiring an additional 1,083 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BAP has been the subject of a number of research analyst reports. HSBC raised Credicorp from a “hold” rating to a “buy” rating and increased their price target for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. JPMorgan Chase & Co. lowered Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a research report on Monday, June 15th. Weiss Ratings cut Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, August 20th. Finally, The Goldman Sachs Group boosted their price target on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Credicorp currently has an average rating of “Moderate Buy” and an average price target of $418.40.

Credicorp Stock Down 1.0%

BAP stock opened at $369.53 on Friday. The stock has a fifty day moving average of $385.48 and a 200-day moving average of $354.60. Credicorp Ltd. has a fifty-two week low of $230.45 and a fifty-two week high of $413.24. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.72 and a beta of 0.90. 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 (NYSE:BAP) last announced its quarterly earnings data on Friday, August 14th. The bank reported $7.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $0.02. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Credicorp had a return on equity of 20.52% and a net margin of 25.04%. As a group, equities research analysts predict that Credicorp Ltd. will post 29.41 earnings per share for the current 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.