Altrinsic Global Advisors LLC Decreases Stake in Credicorp Ltd. $BAP

Key Points

• Altrinsic Global Advisors LLC reduced its stake in Credicorp Ltd. by 0.7%, now holding 210,207 shares valued at approximately $39.13 million, making it the 14th largest holding in their portfolio.
• Several institutional investors, including Itau Unibanco and Bank of Nova Scotia, have significantly increased their positions in Credicorp, reflecting a growing interest in the stock.
• Analyst ratings for Credicorp have improved, with firms like Goldman Sachs and Citigroup upgrading their ratings and increasing price targets, indicating a positive outlook for the stock.

Altrinsic Global Advisors LLC lessened its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,207 shares of the bank's stock after selling 1,476 shares during the period. Credicorp comprises approximately 1.9% of Altrinsic Global Advisors LLC's investment portfolio, making the stock its 14th largest holding. Altrinsic Global Advisors LLC owned 0.26% of Credicorp worth $39,132,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cerity Partners LLC boosted its position in Credicorp by 37.1% in the 1st quarter. Cerity Partners LLC now owns 5,545 shares of the bank's stock worth $1,032,000 after purchasing an additional 1,500 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Credicorp by 27,522.6% during the 1st quarter. GAMMA Investing LLC now owns 8,563 shares of the bank's stock worth $1,594,000 after buying an additional 8,532 shares during the period. Quantinno Capital Management LP raised its stake in shares of Credicorp by 29.5% during the 4th quarter. Quantinno Capital Management LP now owns 2,996 shares of the bank's stock worth $549,000 after buying an additional 682 shares during the period. Penserra Capital Management LLC acquired a new position in Credicorp in the 1st quarter valued at $122,000. Finally, Quarry LP acquired a new position in Credicorp in the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Trading Up 0.2%

Shares of BAP traded up $0.56 during midday trading on Friday, reaching $256.65. The company had a trading volume of 442,590 shares, compared to its average volume of 368,794. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $258.70. The stock has a market cap of $20.41 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. The firm has a 50 day simple moving average of $236.15 and a 200-day simple moving average of $209.31. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49.

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 analysts' consensus estimates of $5.73 by $0.51. Credicorp had a return on equity of 16.25% and a net margin of 20.94%.The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.52 billion. Research analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on BAP shares. The Goldman Sachs Group raised 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 research note 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. UBS Group reissued a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Finally, Citigroup increased their price objective on Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $236.80.

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.