Principal Financial Group Inc. Purchases 86,340 Shares of Credicorp Ltd. $BAP

Principal Financial Group Inc. increased its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 42.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 291,175 shares of the bank’s stock after purchasing an additional 86,340 shares during the period. Principal Financial Group Inc.’s holdings in Credicorp were worth $77,534,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Credicorp in the first quarter valued at approximately $78,000. DAVENPORT & Co LLC increased its holdings in shares of Credicorp by 6.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 5,688 shares of the bank’s stock worth $1,271,000 after acquiring an additional 355 shares during the last quarter. Shell Asset Management Co. raised its stake in Credicorp by 54.7% in the 2nd quarter. Shell Asset Management Co. now owns 6,670 shares of the bank’s stock valued at $1,491,000 after acquiring an additional 2,358 shares during the period. Callan Family Office LLC lifted its holdings in Credicorp by 232.0% during the 2nd quarter. Callan Family Office LLC now owns 3,599 shares of the bank’s stock valued at $804,000 after purchasing an additional 2,515 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Credicorp by 9.2% during the 2nd quarter. Blue Trust Inc. now owns 2,798 shares of the bank’s stock valued at $625,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

BAP has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, November 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, The Goldman Sachs Group raised their price objective on shares of Credicorp from $263.00 to $293.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Credicorp has a consensus rating of “Moderate Buy” and a consensus target price of $290.20.

Credicorp Price Performance

Shares of Credicorp stock opened at $375.36 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $29.86 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 0.81 and a beta of 0.87. Credicorp Ltd. has a twelve month low of $165.51 and a twelve month high of $380.20. The company has a 50-day simple moving average of $300.56 and a two-hundred day simple moving average of $270.97.

Credicorp (NYSE:BAP) last announced its earnings results on Thursday, November 13th. The bank reported $6.17 EPS for the quarter, topping the consensus estimate of $6.05 by $0.12. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current year.

About Credicorp

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.