American Century Companies Inc. Sells 37,621 Shares of Credicorp Ltd. $BAP

Key Points

• American Century Companies trimmed its Credicorp stake by 12.6% in Q3, selling 37,621 shares and now holds 261,011 shares valued at about $69.5 million (0.33% of the company).
• Other institutions made big moves: Norges Bank initiated a ~$110.9 million position, while Bank of America more than doubled its holding to 491,046 shares; institutional ownership stands at 89.81%.
• Credicorp trades at a market cap of $27.04 billion with a PE of 13.98; it missed EPS estimates last quarter ($5.88 vs. $6.61) but topped revenue expectations, and analysts have a consensus rating of Moderate Buy with an average target of $297.60.

American Century Companies Inc. cut its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 12.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 261,011 shares of the bank's stock after selling 37,621 shares during the quarter. American Century Companies Inc. owned 0.33% of Credicorp worth $69,502,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Credicorp during the second quarter worth $110,945,000. Mondrian Investment Partners LTD acquired a new position in shares of Credicorp during the third quarter valued at about $78,211,000. Bank of America Corp DE boosted its position in shares of Credicorp by 125.5% during the 2nd quarter. Bank of America Corp DE now owns 491,046 shares of the bank's stock worth $109,759,000 after purchasing an additional 273,305 shares in the last quarter. Altrinsic Global Advisors LLC grew its stake in shares of Credicorp by 125.8% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 474,565 shares of the bank's stock valued at $106,075,000 after buying an additional 264,358 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Credicorp by 7.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank's stock valued at $808,985,000 after buying an additional 223,497 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Credicorp Price Performance

Shares of NYSE BAP opened at $339.92 on Thursday. The stock's 50 day moving average price is $331.15 and its 200-day moving average price is $286.32. The company has a market capitalization of $27.04 billion, a PE ratio of 13.98, a PEG ratio of 0.75 and a beta of 0.87. Credicorp Ltd. has a twelve month low of $165.51 and a twelve month high of $380.20. The company has a quick ratio of 1.07, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing the consensus estimate of $6.61 by ($0.73). Credicorp had a return on equity of 20.43% and a net margin of 24.53%.The business had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.77 billion. On average, equities analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BAP. Zacks Research downgraded Credicorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Weiss Ratings restated a "buy (b)" rating on shares of Credicorp in a research note on Monday, December 29th. Wall Street Zen lowered shares of Credicorp from a "buy" rating to a "hold" rating in a report on Saturday, December 20th. The Goldman Sachs Group lifted their price target on Credicorp from $293.00 to $330.00 and gave the company a "neutral" rating in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. boosted their price objective on Credicorp from $242.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, November 21st. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $297.60.

Credicorp Profile

Credicorp Ltd. NYSE: BAP is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp's principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.

Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.

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