GQG Partners LLC Purchases Shares of 72,991 Credicorp Ltd. $BAP

GQG Partners LLC purchased a new position in Credicorp Ltd. (NYSE:BAP) during the 2nd quarter, HoldingsChannel reports. The fund purchased 72,991 shares of the bank’s stock, valued at approximately $28,436,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BAP. Northwestern Mutual Wealth Management Co. bought a new stake in Credicorp during the second quarter valued at $27,000. Quantbot Technologies LP bought a new stake in shares of Credicorp during the 2nd quarter valued at about $26,000. W1M Asset Management Ltd bought a new stake in shares of Credicorp during the 2nd quarter valued at about $1,248,000. William Blair Investment Management LLC purchased a new position in shares of Credicorp during the second quarter worth about $243,544,000. Finally, Korea Investment CORP bought a new position in shares of Credicorp in the second quarter worth approximately $10,986,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’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 transaction, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

BAP has been the subject of several research analyst reports. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and lifted their target price for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $375.00 to $480.00 in a report 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 research note on Thursday, July 16th. UBS Group lifted their price target on Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective on the stock. in a research report on Monday, June 15th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $418.40.

Credicorp Trading Up 2.2%

NYSE BAP opened at $378.51 on Friday. The firm has a market cap of $35.72 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. Credicorp Ltd. has a 1-year low of $230.45 and a 1-year high of $413.24. The stock has a 50-day moving average of $385.34 and a 200-day moving average of $354.11. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Friday, August 14th. The bank reported $7.33 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $0.02. Credicorp had a return on equity of 20.52% and a net margin of 25.04%.The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.82 billion. As a group, sell-side analysts forecast that Credicorp Ltd. will post 29.41 EPS for the current year.

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.