Allianz Asset Management GmbH Lowers Stock Position in Credicorp Ltd. $BAP

Key Points

• Allianz Asset Management GmbH reduced its stake in Credicorp Ltd. by 8.5% in Q2, owning 69,535 shares valued at approximately $15.54 million after selling 6,486 shares.
• Despite reductions from some investors, institutions have increased their stakes, with significant boosts coming from firms like Farther Finance Advisors LLC and Robeco Institutional Asset Management B.V..
• Credicorp recently reported strong quarterly earnings, exceeding EPS estimates at $6.24, while analysts' ratings for the stock range from "Strong Buy" to "Hold," reflecting a "Moderate Buy" consensus with an average price target of $250.00.

Allianz Asset Management GmbH lessened its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,535 shares of the bank's stock after selling 6,486 shares during the quarter. Allianz Asset Management GmbH owned 0.09% of Credicorp worth $15,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BAP. Farther Finance Advisors LLC boosted its holdings in Credicorp by 2,170.0% in the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock valued at $44,000 after purchasing an additional 217 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in Credicorp by 8.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 10,876 shares of the bank's stock valued at $2,025,000 after purchasing an additional 837 shares in the last quarter. Wealthquest Corp purchased a new stake in Credicorp in the 1st quarter valued at approximately $728,000. Robeco Institutional Asset Management B.V. boosted its holdings in Credicorp by 25.1% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 205,973 shares of the bank's stock valued at $38,344,000 after purchasing an additional 41,341 shares in the last quarter. Finally, Board of the Pension Protection Fund boosted its holdings in Credicorp by 100.0% in the 1st quarter. Board of the Pension Protection Fund now owns 4,600 shares of the bank's stock valued at $856,000 after purchasing an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Trading Down 0.2%

Shares of Credicorp stock opened at $253.44 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $280.88. The company has a market capitalization of $20.16 billion, a P/E ratio of 12.01, a P/E/G ratio of 0.69 and a beta of 1.11. The business has a 50 day moving average price of $259.51 and a 200 day moving average price of $228.61.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BAP. The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Wall Street Zen raised Credicorp from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Weiss Ratings reissued a "buy (b+)" rating on shares of Credicorp in a research note on Tuesday, October 14th. UBS Group boosted their price target on Credicorp from $257.00 to $318.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Finally, HSBC lowered Credicorp from a "buy" rating to a "hold" rating and boosted their price target for the stock from $225.00 to $255.00 in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $250.00.

Credicorp Company 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.

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