Fourth Sail Capital LP boosted its stake in shares of Credicorp Ltd. (NYSE:BAP – Free Report) by 415.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,988 shares of the bank’s stock after purchasing an additional 97,500 shares during the quarter. Credicorp comprises approximately 5.6% of Fourth Sail Capital LP’s investment portfolio, making the stock its 3rd biggest position. Fourth Sail Capital LP owned about 0.15% of Credicorp worth $34,724,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sovran Advisors LLC bought a new position in Credicorp during the fourth quarter worth $1,358,000. Causeway Capital Management LLC boosted its position in Credicorp by 11.9% during the third quarter. Causeway Capital Management LLC now owns 215,628 shares of the bank’s stock worth $57,417,000 after purchasing an additional 22,870 shares during the period. Marshall Financial Group LLC bought a new position in Credicorp during the fourth quarter worth $912,000. Capital World Investors bought a new position in Credicorp during the third quarter worth $434,014,000. Finally, Ninety One North America Inc. boosted its position in Credicorp by 9.9% during the fourth quarter. Ninety One North America Inc. now owns 166,814 shares of the bank’s stock worth $47,876,000 after purchasing an additional 14,994 shares during the period. 89.81% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. JPMorgan Chase & Co. boosted their target price on shares of Credicorp from $412.00 to $415.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Weiss Ratings cut shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Finally, UBS Group boosted their target price on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $356.40.
Credicorp Trading Up 0.2%
Shares of Credicorp stock opened at $369.16 on Friday. The stock has a market cap of $34.84 billion, a PE ratio of 14.23, a PEG ratio of 0.80 and a beta of 0.89. The firm has a 50-day moving average of $334.58 and a 200-day moving average of $322.80. Credicorp Ltd. has a 52-week low of $213.75 and a 52-week high of $380.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02.
Credicorp (NYSE:BAP – Get Free Report) last announced its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. The firm had revenue of $1.81 billion for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. As a group, sell-side analysts forecast that Credicorp Ltd. will post 29.61 EPS for the current year.
Insider Transactions at Credicorp
In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the sale, the chief executive officer directly owned 7,307 shares in the company, valued at $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the 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 sale, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.90% of the company’s stock.
Credicorp 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.
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