Ariel Investments LLC Has $33.62 Million Stock Holdings in Credicorp Ltd. $BAP

Key Points

• Ariel Investments LLC reduced its stake in Credicorp Ltd. by 26.0%, currently holding 180,611 shares valued at approximately $33.62 million.
• Multiple institutional investors, including Cerity Partners LLC and GAMMA Investing LLC, have increased their positions in Credicorp, indicating strong institutional interest in the bank.
• Credicorp has received positive analyst ratings, with a consensus rating of "Moderate Buy" and an average target price of $236.80, following a notable earnings report that beat estimates.

Ariel Investments LLC cut its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 26.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 180,611 shares of the bank's stock after selling 63,524 shares during the quarter. Ariel Investments LLC owned about 0.23% of Credicorp worth $33,623,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in shares of Credicorp in the 1st quarter valued at $77,577,000. Teacher Retirement System of Texas increased its holdings in Credicorp by 811.5% during the 1st quarter. Teacher Retirement System of Texas now owns 229,129 shares of the bank's stock worth $42,655,000 after purchasing an additional 203,992 shares during the period. Carrhae Capital LLP boosted its position in shares of Credicorp by 389.0% during the 1st quarter. Carrhae Capital LLP now owns 198,875 shares of the bank's stock worth $37,023,000 after acquiring an additional 158,206 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Credicorp by 21.8% during the 1st quarter. Bank of Nova Scotia now owns 867,347 shares of the bank's stock worth $161,465,000 after acquiring an additional 155,162 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Credicorp by 27.1% during the 1st quarter. Northern Trust Corp now owns 557,245 shares of the bank's stock worth $103,737,000 after acquiring an additional 118,706 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BAP has been the subject of a number of research analyst reports. UBS Group reissued a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. HSBC downgraded Credicorp from a "buy" rating to a "hold" rating and increased their target price for the stock from $225.00 to $255.00 in a research note on Friday. Citigroup boosted their target price on Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Wall Street Zen raised Credicorp from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Finally, The Goldman Sachs Group upgraded Credicorp from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $174.00 to $225.00 in a report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $239.83.

Credicorp Stock Up 0.6%

Credicorp stock traded up $1.49 during midday trading on Monday, hitting $262.69. The stock had a trading volume of 157,501 shares, compared to its average volume of 320,168. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49. The stock has a market cap of $20.89 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.72 and a beta of 1.12. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $265.10. The business has a fifty day moving average price of $240.17 and a 200 day moving average price of $212.10.

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. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.52 billion. Credicorp had a return on equity of 16.25% and a net margin of 20.94%. Research analysts predict that Credicorp Ltd. will post 21.9 EPS for the current year.

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.