Mirae Asset Global Investments Co. Ltd. raised its holdings in Credicorp Ltd. (NYSE:BAP) by 76.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,187 shares of the bank’s stock after acquiring an additional 9,167 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Credicorp were worth $4,726,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its stake in Credicorp by 1.5% in the third quarter. BlackRock Inc. now owns 3,545,396 shares of the bank’s stock valued at $790,907,000 after acquiring an additional 50,870 shares during the last quarter. FMR LLC boosted its position in shares of Credicorp by 1.4% during the third quarter. FMR LLC now owns 1,633,913 shares of the bank’s stock worth $364,493,000 after purchasing an additional 22,619 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Credicorp by 5.6% during the third quarter. Schroder Investment Management Group now owns 1,187,736 shares of the bank’s stock worth $264,961,000 after purchasing an additional 62,562 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Credicorp by 1.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 897,979 shares of the bank’s stock worth $200,321,000 after purchasing an additional 12,666 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Credicorp by 42.4% during the second quarter. Bank of Nova Scotia now owns 527,054 shares of the bank’s stock worth $118,651,000 after purchasing an additional 156,944 shares in the last quarter. 66.36% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on BAP. Itau BBA Securities raised shares of Credicorp from a “market perform” rating to an “outperform” rating and set a $274.00 price target on the stock in a research report on Friday. UBS Group raised shares of Credicorp from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $259.33.
Shares of NYSE BAP opened at $220.68 on Friday. The firm has a market cap of $17.71 billion, a PE ratio of 14.02, a PEG ratio of 1.31 and a beta of 0.81. Credicorp Ltd. has a twelve month low of $189.69 and a twelve month high of $239.54. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.85.
Credicorp (NYSE:BAP) last announced its quarterly earnings results on Thursday, November 8th. The bank reported $3.85 earnings per share for the quarter, missing analysts’ consensus estimates of $4.00 by ($0.15). The firm had revenue of $982.21 million for the quarter. Credicorp had a return on equity of 18.21% and a net margin of 25.82%. As a group, equities analysts anticipate that Credicorp Ltd. will post 15.77 earnings per share for the current fiscal year.
Credicorp Ltd., through its banking and non-banking subsidiaries, provides a range of financial, insurance, and health services and products primarily in Peru and internationally. It operates through four segments: Banking, Insurance, Pension Funds, and Investment Banking. The company offers deposits, current accounts, loans, and credit facilities; and provides private pension fund management services to affiliated pensioners.
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