Intech Investment Management LLC Acquires 2,628 Shares of Credicorp Ltd. $BAP

Intech Investment Management LLC raised its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 34.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,230 shares of the bank’s stock after purchasing an additional 2,628 shares during the period. Intech Investment Management LLC’s holdings in Credicorp were worth $2,936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital World Investors bought a new position in shares of Credicorp during the third quarter valued at approximately $434,014,000. Invesco Ltd. increased its stake in shares of Credicorp by 27.4% during the third quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock valued at $359,320,000 after purchasing an additional 290,585 shares in the last quarter. State Street Corp increased its stake in shares of Credicorp by 5.8% during the third quarter. State Street Corp now owns 1,267,553 shares of the bank’s stock valued at $337,524,000 after purchasing an additional 70,017 shares in the last quarter. Pzena Investment Management LLC increased its stake in shares of Credicorp by 1.5% during the fourth quarter. Pzena Investment Management LLC now owns 1,068,942 shares of the bank’s stock valued at $306,786,000 after purchasing an additional 15,886 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Credicorp by 1.5% during the third quarter. Bank of Nova Scotia now owns 1,030,687 shares of the bank’s stock valued at $274,451,000 after acquiring an additional 15,278 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group raised their price target 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. The Goldman Sachs Group raised their price target on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Weiss Ratings downgraded shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target 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. Finally, Zacks Research downgraded shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $356.40.

Insider Buying and Selling at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total transaction of $362,137.50. Following the transaction, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. This trade represents a 38.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.90% of the stock is owned by corporate insiders.

Credicorp Trading Up 0.9%

Shares of BAP stock opened at $343.64 on Wednesday. Credicorp Ltd. has a 12-month low of $209.46 and a 12-month high of $380.20. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $332.43 and its 200 day moving average is $317.64. The stock has a market capitalization of $32.43 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.74 and a beta of 0.89.

Credicorp (NYSE:BAP) last issued its earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. The company had revenue of $1.81 billion for the quarter. Research analysts expect that Credicorp Ltd. will post 29.61 earnings per share 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.