Cigna Investments Inc. New Acquires Shares of 1,133 Credicorp Ltd. $BAP

Key Points

• Cigna Investments Inc. has acquired a new stake in Credicorp Ltd., purchasing 1,133 shares valued at approximately $211,000 during the first quarter.
• Institutional ownership of Credicorp currently stands at 89.81%, with several firms, including Royal Bank of Canada and OMERS ADMINISTRATION Corp, increasing their positions in the stock.
• Analysts generally have a positive outlook on Credicorp, with a consensus rating of "Moderate Buy" and a target price set at $236.80.

Cigna Investments Inc. New acquired a new stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,133 shares of the bank's stock, valued at approximately $211,000.

Other hedge funds also recently added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in Credicorp in the first quarter valued at $35,000. Cullen Frost Bankers Inc. purchased a new stake in Credicorp in the first quarter valued at $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Credicorp in the fourth quarter valued at $40,000. Farther Finance Advisors LLC boosted its holdings in Credicorp by 2,170.0% in the first quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock valued at $44,000 after purchasing an additional 217 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Credicorp in the first quarter valued at $108,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BAP has been the topic of several recent research reports. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and upped their price target for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Citigroup increased their target price on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. HSBC lowered shares of 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. Finally, UBS Group reissued a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $239.83.

Credicorp Price Performance

Shares of BAP traded up $2.65 during mid-day trading on Monday, hitting $263.85. 113,284 shares of the company were exchanged, compared to its average volume of 319,644. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $265.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08. The company has a 50 day moving average of $240.17 and a 200-day moving average of $212.10. The stock has a market cap of $20.99 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.72 and a beta of 1.12.

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