Aberdeen Group plc Grows Holdings in Credicorp Ltd. $BAP

Key Points

• Aberdeen Group plc increased its holdings in Credicorp Ltd. by 2.6% in Q2, buying an additional 6,693 shares, leading to a total ownership of $59.6 million.
• Credicorp's latest earnings report surpassed estimates, with earnings per share of $6.24 against a forecast of $5.73, resulting in strong analyst evaluations and several rating upgrades.
• Hedge funds and institutional investors currently own 89.81% of Credicorp's stock, indicating a robust interest in the company from major investors.

Aberdeen Group plc raised its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 2.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 265,179 shares of the bank's stock after buying an additional 6,693 shares during the period. Aberdeen Group plc owned about 0.33% of Credicorp worth $59,584,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its holdings in Credicorp by 37.1% in the first quarter. Cerity Partners LLC now owns 5,545 shares of the bank's stock valued at $1,032,000 after buying an additional 1,500 shares in the last quarter. Inspire Investing LLC purchased a new position in Credicorp during the first quarter valued at $744,000. GAMMA Investing LLC lifted its holdings in Credicorp by 27,522.6% during the first quarter. GAMMA Investing LLC now owns 8,563 shares of the bank's stock valued at $1,594,000 after purchasing an additional 8,532 shares in the last quarter. Paragon Capital Management Ltd purchased a new position in Credicorp during the second quarter valued at $233,000. Finally, Penserra Capital Management LLC purchased a new position in Credicorp during the first quarter valued at $122,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Stock Performance

NYSE:BAP opened at $254.58 on Friday. The company's 50-day moving average price is $258.39 and its 200-day moving average price is $225.59. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49. The company has a market cap of $20.25 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.69 and a beta of 1.11. Credicorp Ltd. has a twelve month low of $165.51 and a twelve month high of $280.88.

Credicorp (NYSE:BAP - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.51. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.52 billion. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. On average, sell-side analysts forecast that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BAP shares. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Citigroup increased their price objective on shares of Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. UBS Group increased their price objective on shares of Credicorp from $257.00 to $318.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. HSBC downgraded shares of Credicorp from a "buy" rating to a "hold" rating and increased their price objective for the company from $225.00 to $255.00 in a report on Friday, September 5th. Finally, The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and increased their price objective for the company from $174.00 to $225.00 in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $250.00.

About Credicorp

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.

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