Credicorp Ltd. $BAP Stock: Ninety One North America Inc. Grows Position

Ninety One North America Inc. grew its position in shares of Credicorp Ltd. (NYSE:BAP) by 23.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,216 shares of the bank’s stock after purchasing an additional 21,918 shares during the period. Credicorp comprises about 2.2% of Ninety One North America Inc.’s holdings, making the stock its 14th largest holding. Ninety One North America Inc. owned approximately 0.12% of Credicorp worth $44,147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BAP. BlackRock Inc. bought a new position in shares of Credicorp during the 2nd quarter valued at about $1,933,666,000. Royal Bank of Canada lifted its position in Credicorp by 0.8% in the 1st quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock worth $584,042,000 after buying an additional 13,249 shares during the last quarter. Pzena Investment Management LLC purchased a new stake in Credicorp in the second quarter worth approximately $325,911,000. Bank of Nova Scotia purchased a new stake in Credicorp in the second quarter worth approximately $311,294,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Credicorp by 15.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 842,780 shares of the bank’s stock worth $285,854,000 after buying an additional 112,418 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Stock Performance

Shares of Credicorp stock traded up $6.75 during trading on Thursday, hitting $390.69. 157,579 shares of the company’s stock traded hands, compared to its average volume of 418,445. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. Credicorp Ltd. has a 1 year low of $230.45 and a 1 year high of $413.24. The stock has a market capitalization of $36.87 billion, a P/E ratio of 14.47, a PEG ratio of 0.74 and a beta of 0.92. The business has a 50-day simple moving average of $379.71 and a 200-day simple moving average of $364.55.

Analyst Ratings Changes

BAP has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 9th. JPMorgan Chase & Co. upgraded shares of Credicorp from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $453.00 to $482.00 in a research note on Wednesday, September 16th. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. Finally, UBS Group boosted their price objective on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $431.80.

Credicorp Company Profile

Credicorp Ltd. (NYSE: BAP) is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, investment management, pension administration and investment banking services to individuals, businesses and institutional clients.

Its principal businesses include Banco de Crédito del Perú, one of Peru’s leading banks; Mibanco, which focuses on microfinance and small-business lending; Pacífico Seguros, an insurance provider; Prima AFP, which manages private pension accounts; and Credicorp Capital, which offers investment banking, asset management, brokerage and related capital-markets services.

Credicorp’s operations are centered primarily in Peru, with selected investment banking and capital-markets activities serving clients elsewhere in the Latin American region.