Intech Investment Management LLC Takes $1.87 Million Position in Credicorp Ltd. $BAP

Intech Investment Management LLC bought a new stake in shares of Credicorp Ltd. (NYSE:BAP) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,380 shares of the bank’s stock, valued at approximately $1,873,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH lifted its stake in shares of Credicorp by 87.7% during the first quarter. Allianz Asset Management GmbH now owns 76,021 shares of the bank’s stock worth $14,152,000 after purchasing an additional 35,530 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Credicorp by 83.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 5,767 shares of the bank’s stock valued at $1,074,000 after buying an additional 2,629 shares during the period. KLP Kapitalforvaltning AS lifted its position in Credicorp by 1.0% during the 1st quarter. KLP Kapitalforvaltning AS now owns 19,629 shares of the bank’s stock worth $3,654,000 after acquiring an additional 200 shares in the last quarter. Cape Ann Asset Management Ltd boosted its holdings in Credicorp by 34.6% in the 1st quarter. Cape Ann Asset Management Ltd now owns 217,078 shares of the bank’s stock worth $36,780,000 after acquiring an additional 55,800 shares during the period. Finally, Wealthquest Corp purchased a new position in Credicorp in the 1st quarter worth approximately $728,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Trading Down 0.2%

BAP opened at $247.77 on Friday. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $280.88. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $19.71 billion, a PE ratio of 11.74, a P/E/G ratio of 0.71 and a beta of 1.09. The firm’s fifty day moving average price is $259.54 and its 200 day moving average price is $239.89.

Credicorp (NYSE:BAP) last released its earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share for the quarter, topping the consensus estimate of $6.05 by $0.12. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.71 billion. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. As a group, research analysts expect that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday. Wall Street Zen raised shares of Credicorp from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. UBS Group boosted their price objective on shares of Credicorp from $257.00 to $318.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Citigroup raised their target price on Credicorp from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Hsbc Global Res raised Credicorp to a “hold” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $265.17.

About Credicorp

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.