APG Asset Management N.V. Decreases Stake in Credicorp Ltd. $BAP

Key Points

• APG Asset Management N.V. reduced its stake in Credicorp Ltd. by 34.5% during the first quarter, now holding about 0.08% of the company, worth approximately $10.89 million.
• Multiple institutional investors have acquired shares in Credicorp, with hedge funds and other institutions owning 89.81% of the stock.
• Credicorp reported earnings of $6.24 per share for the quarter, exceeding analysts' expectations, and received several upgrades from brokerages, indicating a moderate buy rating.

APG Asset Management N.V. lessened its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 34.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,169 shares of the bank's stock after selling 33,255 shares during the period. APG Asset Management N.V. owned 0.08% of Credicorp worth $10,886,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Fund Management S.A. purchased a new stake in shares of Credicorp in the 1st quarter valued at about $2,482,000. Korea Investment CORP lifted its holdings in Credicorp by 4.0% in the 1st quarter. Korea Investment CORP now owns 26,200 shares of the bank's stock worth $4,877,000 after buying an additional 1,000 shares during the period. Northern Trust Corp lifted its holdings in Credicorp by 27.1% in the 1st quarter. Northern Trust Corp now owns 557,245 shares of the bank's stock worth $103,737,000 after buying an additional 118,706 shares during the period. Brooklyn Investment Group lifted its holdings in Credicorp by 2,196.2% in the 1st quarter. Brooklyn Investment Group now owns 1,217 shares of the bank's stock worth $227,000 after buying an additional 1,164 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Credicorp by 3.6% in the 1st quarter. American Century Companies Inc. now owns 329,724 shares of the bank's stock valued at $61,381,000 after purchasing an additional 11,513 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BAP. The Goldman Sachs Group upgraded Credicorp from a "sell" rating to a "neutral" rating and raised their target price for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Citigroup raised their target price on Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. UBS Group reiterated a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Finally, Wall Street Zen upgraded Credicorp from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $236.80.

Credicorp Stock Up 0.2%

NYSE:BAP traded up $0.56 during trading hours on Friday, reaching $256.65. 442,590 shares of the company traded hands, compared to its average volume of 371,509. The business's 50-day moving average price is $236.15 and its two-hundred day moving average price is $209.49. The stock has a market capitalization of $20.41 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.71 and a beta of 1.12. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $258.70. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49.

Credicorp (NYSE:BAP - Get Free Report) last posted its earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, topping analysts' consensus estimates of $5.73 by $0.51. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. Credicorp had a return on equity of 16.25% and a net margin of 20.94%. Analysts predict that Credicorp Ltd. will post 21.9 earnings per share for the current year.

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.