47,792 Shares in Credicorp Ltd. $BAP Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 47,792 Credicorp shares in the second quarter, valued at approximately $18.6 million, giving it a 0.05% stake. Institutional investors and hedge funds collectively own 89.81% of BAP.
• Analyst sentiment is generally positive: Credicorp has a consensus “Moderate Buy” rating and an average price target of $418.40, with HSBC and Morgan Stanley among firms upgrading the stock.
• Credicorp reported quarterly EPS of $7.33, slightly above estimates, and revenue of $1.96 billion versus the $1.82 billion consensus. The stock recently opened at $369.53, down 1.0%.

Jupiter Topco LLC bought a new position in Credicorp Ltd. (NYSE:BAP - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 47,792 shares of the bank's stock, valued at approximately $18,626,000. Jupiter Topco LLC owned approximately 0.05% of Credicorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in BAP. Quantbot Technologies LP acquired a new stake in shares of Credicorp during the 2nd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Credicorp during the 2nd quarter valued at $27,000. Brown Brothers Harriman & Co. acquired a new position in shares of Credicorp during the 3rd quarter valued at $35,000. Raymond James Financial Inc. bought a new position in Credicorp during the second quarter worth $38,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Credicorp during the first quarter worth $40,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BAP. HSBC raised shares of Credicorp from a "hold" rating to a "buy" rating and lifted their price target for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. UBS Group increased their price objective 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. The Goldman Sachs Group boosted their target price on Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Morgan Stanley raised Credicorp from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. lowered Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price target on the stock. in a report on Monday, June 15th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $418.40.

Credicorp Stock Down 1.0%

Credicorp stock opened at $369.53 on Friday. Credicorp Ltd. has a 1-year low of $230.45 and a 1-year high of $413.24. The firm has a market capitalization of $34.88 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 0.72 and a beta of 0.90. The firm's fifty day moving average price is $385.48 and its two-hundred day moving average price is $354.60. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38.

Credicorp (NYSE:BAP - Get Free Report) last posted its earnings results on Friday, August 14th. The bank reported $7.33 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.82 billion. On average, equities research analysts predict that Credicorp Ltd. will post 29.41 earnings per share for the current fiscal year.

Insider Transactions at Credicorp

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction dated 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. The trade was a 32.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.90% of the company's stock.

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.

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