Strategic Global Advisors LLC Invests $986,000 in Credicorp Ltd. $BAP

Strategic Global Advisors LLC bought a new stake in Credicorp Ltd. (NYSE:BAP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,530 shares of the bank’s stock, valued at approximately $986,000.

Several other hedge funds have also bought and sold shares of the company. Caisse de depot et placement du Quebec bought a new position in Credicorp during the second quarter worth about $21,333,000. Man Group plc bought a new stake in Credicorp in the second quarter valued at approximately $7,454,000. Jupiter Topco LLC bought a new stake in Credicorp in the second quarter valued at approximately $18,626,000. Hsbc Holdings PLC acquired a new stake in shares of Credicorp in the second quarter valued at approximately $84,497,000. Finally, Legal & General Group Plc acquired a new stake in shares of Credicorp in the second quarter valued at approximately $227,711,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the sale, the chief executive officer directly owned 7,307 shares in the company, valued at $2,330,933. The trade was a 32.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 15.90% of the stock is owned by company insiders.

Credicorp Trading Down 0.4%

Shares of BAP stock opened at $381.74 on Thursday. Credicorp Ltd. has a 12-month low of $230.45 and a 12-month high of $413.24. The company has a market capitalization of $36.03 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.75 and a beta of 0.90. The firm has a 50 day moving average price of $385.93 and a two-hundred day moving average price of $354.37. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.

Credicorp (NYSE:BAP) last posted its earnings results on Friday, August 14th. The bank reported $7.33 EPS for the quarter, beating the consensus estimate of $7.31 by $0.02. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.82 billion. Credicorp had a return on equity of 20.52% and a net margin of 25.04%. As a group, analysts predict that Credicorp Ltd. will post 29.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on BAP. The Goldman Sachs Group boosted their target price on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and raised their price target for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. UBS Group lifted their price objective on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Weiss Ratings downgraded shares of Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, August 20th. Finally, JPMorgan Chase & Co. downgraded shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective on the stock. in a report on Monday, June 15th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $418.40.

Credicorp Company 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.