Public Employees Retirement System of Ohio Makes New Investment in Credicorp Ltd. $BAP

Public Employees Retirement System of Ohio acquired a new position in shares of Credicorp Ltd. (NYSE:BAP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 71,306 shares of the bank’s stock, valued at approximately $27,779,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Credicorp in the first quarter valued at about $78,000. Cetera Investment Advisers raised its holdings in Credicorp by 36.3% during the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock worth $399,000 after purchasing an additional 476 shares during the last quarter. State Street Corp lifted its position in Credicorp by 1.6% during the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock valued at $267,673,000 after purchasing an additional 19,361 shares during the period. Nebula Research & Development LLC acquired a new position in Credicorp during the 2nd quarter valued at about $355,000. Finally, Quantinno Capital Management LP boosted its stake in shares of Credicorp by 24.7% in the 2nd quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock valued at $1,222,000 after purchasing an additional 1,083 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction that occurred 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 owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 15.90% of the stock is owned by corporate insiders.

Credicorp Trading Down 1.0%

Credicorp stock opened at $369.53 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average of $385.48 and a 200-day moving average of $354.60. The company has a market cap of $34.88 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 0.73 and a beta of 0.90. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24.

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

Wall Street Analysts Forecast Growth

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