Arrowstreet Capital Limited Partnership Increases Position in Credicorp Ltd. $BAP

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 4.2% in the 4th quarter, Holdings Channel reports. The fund owned 730,362 shares of the bank’s stock after acquiring an additional 29,467 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Credicorp were worth $209,614,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new stake in Credicorp during the 3rd quarter valued at about $35,000. Kestra Advisory Services LLC purchased a new stake in Credicorp during the 4th quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credicorp during the 4th quarter valued at about $46,000. Raymond James Financial Inc. purchased a new stake in Credicorp during the 2nd quarter valued at about $38,000. Finally, Quarry LP purchased a new stake in Credicorp during the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Stock Performance

NYSE:BAP opened at $369.16 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $34.84 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.80 and a beta of 0.89. The company’s 50-day moving average is $334.58 and its two-hundred day moving average is $323.29. Credicorp Ltd. has a 1-year low of $213.75 and a 1-year high of $380.20.

Credicorp (NYSE:BAP) last posted its earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. The company had revenue of $1.81 billion for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. Analysts forecast that Credicorp Ltd. will post 29.61 EPS for the current year.

Insider Activity at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total value of $362,137.50. Following the transaction, the chief financial officer directly owned 1,745 shares in the company, valued at approximately $588,937.50. This represents a 38.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. This represents a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BAP. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and upped their price objective for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. JPMorgan Chase & Co. boosted their target price on shares of Credicorp from $412.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. The Goldman Sachs Group boosted their target price on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Finally, UBS Group boosted their target price on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $356.40.

Credicorp 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.