Andra AP fonden Has $15.89 Million Stake in Credicorp Ltd. $BAP

Key Points

• Andra AP fonden increased its Credicorp stake by 24.4% in the second quarter, purchasing 8,000 additional shares to reach 40,800 shares valued at approximately $15.9 million.
• Institutional investors and hedge funds own 89.81% of Credicorp, while several other investment firms recently initiated or expanded positions.
• Analyst sentiment is positive, with a consensus “Moderate Buy” rating from five Buy and two Hold ratings and an average price target of $431.80, above the reported share price of $393.53.

Andra AP fonden boosted its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 24.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,800 shares of the bank's stock after purchasing an additional 8,000 shares during the period. Andra AP fonden's holdings in Credicorp were worth $15,895,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. purchased a new position in shares of Credicorp during the second quarter valued at $25,000. Quantbot Technologies LP purchased a new stake in Credicorp in the 2nd quarter worth about $26,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Credicorp in the 2nd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Credicorp during the 1st quarter worth about $40,000. Finally, Allworth Financial LP acquired a new stake in Credicorp during the 2nd quarter worth about $66,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAP has been the topic of several research reports. The Goldman Sachs Group upped their price objective on shares of Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. raised shares of Credicorp from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $453.00 to $482.00 in a research note on Wednesday, September 16th. UBS Group boosted their price target on shares of Credicorp from $412.00 to $473.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Morgan Stanley raised shares of Credicorp from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Finally, Weiss Ratings upgraded Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, September 3rd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $431.80.

Credicorp Trading Up 0.9%

Shares of NYSE:BAP opened at $393.53 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $37.14 billion, a PE ratio of 14.58, a P/E/G ratio of 0.76 and a beta of 0.88. Credicorp Ltd. has a 1 year low of $230.45 and a 1 year high of $413.24. The firm has a fifty day moving average price of $383.13 and a 200 day moving average price of $358.84.

Credicorp Company Profile

Credicorp Ltd. NYSE: BAP is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, pension, investment banking and wealth management services to individuals, businesses and institutions.

Its principal banking subsidiary is Banco de Crédito del Perú (BCP), one of Peru's major banks, which offers deposits, loans, payment services, credit cards and other financial products. Credicorp also operates Mibanco, a bank focused on microfinance and small businesses, and Grupo Pacífico, which provides property and casualty, life and health insurance products.

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