Acadian Asset Management LLC Purchases 73,644 Shares of Credicorp Ltd. $BAP

Key Points

• Acadian Asset Management LLC increased its stock position in Credicorp Ltd. by 30.3%, owning approximately 0.40% of the company valued at $58.9 million.
• Institutional investors hold 89.81% of Credicorp's stock, indicating strong institutional interest in the company.
• Credicorp recently reported earnings of $6.24 per share, exceeding analysts' expectations and signaling a robust performance in the financial sector.

Acadian Asset Management LLC boosted its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 30.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 316,525 shares of the bank's stock after purchasing an additional 73,644 shares during the period. Acadian Asset Management LLC owned about 0.40% of Credicorp worth $58,897,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SVB Wealth LLC purchased a new stake in shares of Credicorp in the 1st quarter worth $35,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Credicorp during the first quarter worth $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Credicorp during the fourth quarter worth $40,000. Farther Finance Advisors LLC increased its stake in shares of Credicorp by 2,170.0% during the first quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock worth $44,000 after purchasing an additional 217 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Credicorp in the 1st quarter valued at about $78,000. 89.81% of the stock is owned by institutional investors.

Credicorp Price Performance

Shares of BAP traded down $0.25 during mid-day trading on Friday, reaching $266.34. The company had a trading volume of 318,591 shares, compared to its average volume of 376,988. The company's 50 day simple moving average is $244.12 and its 200 day simple moving average is $214.80. The company has a market capitalization of $21.18 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 0.74 and a beta of 1.12. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $268.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, topping the consensus estimate of $5.73 by $0.51. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.52 billion. Credicorp had a net margin of 23.11% and a return on equity of 18.05%. Analysts expect that Credicorp Ltd. will post 21.9 EPS for the current year.

Wall Street Analysts Forecast Growth

BAP has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Citigroup lifted their price target on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Hsbc Global Res raised shares of Credicorp to a "hold" rating in a report on Friday, September 5th. UBS Group reissued a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. Finally, HSBC downgraded shares of Credicorp from a "buy" rating to a "hold" rating and raised their price objective for the stock from $225.00 to $255.00 in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Credicorp currently has a consensus rating of "Hold" and an average target price of $239.83.

Credicorp Profile

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.