Aberdeen Group plc Sells 276,541 Shares of Credicorp Ltd. $BAP

Key Points

• Aberdeen Group plc has reduced its stake in Credicorp Ltd. by 51.7%, selling 276,541 shares and retaining 258,486 shares valued at approximately $48.15 million.
• Several institutional investors, including LPL Financial and AllianceBernstein, have increased their holdings in Credicorp during the previous quarter.
• Analysts have mixed ratings on Credicorp, with UBS maintaining a "buy" rating while Goldman Sachs upgraded its price target from $174 to $225, reflecting a consensus price target of $227.25.

Aberdeen Group plc cut its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 51.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 258,486 shares of the bank's stock after selling 276,541 shares during the quarter. Aberdeen Group plc owned about 0.32% of Credicorp worth $48,155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. grew its holdings in Credicorp by 243.8% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank's stock worth $290,920,000 after buying an additional 1,217,368 shares in the last quarter. Nuveen LLC acquired a new position in Credicorp during the 1st quarter worth $77,577,000. Price T Rowe Associates Inc. MD boosted its position in Credicorp by 59.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 757,271 shares of the bank's stock worth $138,824,000 after acquiring an additional 282,869 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Credicorp by 130.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 494,526 shares of the bank's stock worth $90,657,000 after purchasing an additional 280,361 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Credicorp by 811.5% during the first quarter. Teacher Retirement System of Texas now owns 229,129 shares of the bank's stock valued at $42,655,000 after purchasing an additional 203,992 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BAP shares. Wall Street Zen cut shares of Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. Citigroup lifted their target price on Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, UBS Group reaffirmed a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $236.80.

Credicorp Stock Performance

BAP stock traded down $0.6010 during midday trading on Thursday, hitting $248.4690. The stock had a trading volume of 123,937 shares, compared to its average volume of 318,580. The company has a current ratio of 1.08, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The stock has a 50-day simple moving average of $231.15 and a 200 day simple moving average of $205.98. The firm has a market capitalization of $19.76 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.69 and a beta of 1.09. Credicorp Ltd. has a 52 week low of $165.48 and a 52 week high of $255.39.

Credicorp (NYSE:BAP - Get Free Report) last issued its earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.73 by $0.51. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.52 billion. Credicorp had a return on equity of 16.25% and a net margin of 20.94%. As a group, equities research analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current year.

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.