Elevation Point Wealth Partners LLC Acquires New Shares in Credicorp Ltd. $BAP

Elevation Point Wealth Partners LLC acquired a new position in Credicorp Ltd. (NYSE:BAP) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 2,060 shares of the bank’s stock, valued at approximately $802,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BAP. BlackRock Inc. purchased a new position in shares of Credicorp in the 2nd quarter worth $1,933,666,000. Capital World Investors lifted its holdings in Credicorp by 34.7% in the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after acquiring an additional 565,490 shares during the period. Royal Bank of Canada boosted its position in Credicorp by 0.8% in the first quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock worth $584,042,000 after purchasing an additional 13,249 shares during the last quarter. Invesco Ltd. boosted its position in Credicorp by 2.3% in the fourth quarter. Invesco Ltd. now owns 1,380,791 shares of the bank’s stock worth $396,287,000 after purchasing an additional 31,383 shares during the last quarter. Finally, State Street Corp increased its position in shares of Credicorp by 5.5% during the 4th quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock valued at $383,685,000 after purchasing an additional 69,329 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Credicorp Stock Performance

BAP stock opened at $380.03 on Tuesday. The firm has a market cap of $35.87 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.74 and a beta of 0.90. The firm has a 50-day simple moving average of $385.70 and a two-hundred day simple moving average of $354.05. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00.

Credicorp (NYSE:BAP) last issued its quarterly earnings data on Friday, August 14th. The bank reported $7.33 EPS for the quarter, beating the consensus estimate of $7.31 by $0.02. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.82 billion. Credicorp had a return on equity of 20.52% and a net margin of 25.04%. On average, equities analysts forecast that Credicorp Ltd. will post 29.41 EPS for the current fiscal year.

Insider Activity

In other news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction on Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction 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 approximately $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a report on Monday, June 15th. UBS Group boosted their price target on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research note on Thursday. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and upped their price target for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Weiss Ratings cut shares of Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday. Finally, Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.