Canada Pension Plan Investment Board Trims Stake in Credicorp Ltd. $BAP

Key Points

• Canada Pension Plan Investment Board reduced its stake in Credicorp Ltd. by 56.7%, selling 280,361 shares and now holding approximately 0.27% of the company.
• Hedge funds are actively changing their stakes in Credicorp, with the Teacher Retirement System of Texas increasing its position by 811.5% during the first quarter.
• Credicorp's stock has seen upgrades in analyst ratings, with the consensus now at "Moderate Buy" and an average target price of $236.80.

Canada Pension Plan Investment Board decreased its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 56.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 214,165 shares of the bank's stock after selling 280,361 shares during the quarter. Canada Pension Plan Investment Board owned 0.27% of Credicorp worth $39,869,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Fiduciary Trust Co lifted its position in Credicorp by 4.3% in the 4th quarter. Fiduciary Trust Co now owns 1,939 shares of the bank's stock valued at $356,000 after acquiring an additional 80 shares in the last quarter. Deltec Asset Management LLC lifted its position in shares of Credicorp by 4.3% during the 1st quarter. Deltec Asset Management LLC now owns 2,400 shares of the bank's stock worth $447,000 after buying an additional 100 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Credicorp by 1.5% during the 1st quarter. Fifth Third Bancorp now owns 6,645 shares of the bank's stock worth $1,237,000 after buying an additional 101 shares in the last quarter. National Pension Service lifted its position in shares of Credicorp by 0.7% during the 1st quarter. National Pension Service now owns 17,592 shares of the bank's stock worth $3,275,000 after buying an additional 117 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of Credicorp by 2.1% during the 1st quarter. Ritholtz Wealth Management now owns 9,202 shares of the bank's stock worth $1,713,000 after buying an additional 188 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

BAP has been the topic of several recent analyst reports. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $174.00 to $225.00 in a research report on Thursday, July 24th. UBS Group reissued a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. Citigroup lifted their target price on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $236.80.

Credicorp Stock Performance

Shares of BAP stock traded up $2.98 during trading hours on Tuesday, hitting $260.18. 360,172 shares of the company were exchanged, compared to its average volume of 351,529. The firm has a fifty day simple moving average of $237.81 and a 200 day simple moving average of $210.33. 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 Ltd. has a 52-week low of $165.51 and a 52-week high of $260.27. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 0.71 and a beta of 1.12.

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

Credicorp 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.