Credicorp Ltd. $BAP Stake Boosted by Artemis Investment Management LLP

Key Points

• Artemis Investment Management LLP raised its Credicorp (NYSE: BAP) stake by 5.1% in Q4, adding 10,700 shares to hold 221,793 shares worth roughly $63.66 million (about 0.28% of the company).
• Other institutions including Principal Financial, Mitsubishi UFJ and Nordea also increased positions, leaving overall institutional ownership at about 89.81%.
• Credicorp has a $30.37 billion market cap and a trailing PE of 13.24, reported $5.91 EPS for the last quarter, and carries a consensus "Moderate Buy" with a $315.60 target after recent price-target raises from UBS ($408) and Goldman Sachs ($330).

Artemis Investment Management LLP increased its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 221,793 shares of the bank's stock after purchasing an additional 10,700 shares during the quarter. Artemis Investment Management LLP owned 0.28% of Credicorp worth $63,655,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Credicorp by 42.2% in the third quarter. Principal Financial Group Inc. now owns 291,175 shares of the bank's stock valued at $77,534,000 after acquiring an additional 86,340 shares during the last quarter. Sovran Advisors LLC purchased a new stake in Credicorp in the fourth quarter valued at $1,358,000. Nordea Investment Management AB lifted its position in Credicorp by 17.4% in the third quarter. Nordea Investment Management AB now owns 27,953 shares of the bank's stock valued at $7,479,000 after acquiring an additional 4,140 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Credicorp by 19.3% in the third quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank's stock valued at $3,333,000 after acquiring an additional 2,023 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in Credicorp by 25.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 291,237 shares of the bank's stock valued at $77,551,000 after acquiring an additional 58,690 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Credicorp Price Performance

Shares of NYSE:BAP opened at $321.83 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a fifty-two week low of $193.13 and a fifty-two week high of $380.20. The firm has a 50-day simple moving average of $336.03 and a 200 day simple moving average of $306.73. The company has a market cap of $30.37 billion, a PE ratio of 13.24, a P/E/G ratio of 0.73 and a beta of 0.87.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. Credicorp had a net margin of 24.53% and a return on equity of 20.43%. The business had revenue of $1.81 billion during the quarter. On average, sell-side analysts anticipate that Credicorp Ltd. will post 29.09 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group increased their price target on Credicorp from $293.00 to $330.00 and gave the stock a "neutral" rating in a report on Tuesday, February 17th. Zacks Research downgraded Credicorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Finally, UBS Group increased their price target on Credicorp from $318.00 to $408.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $315.60.

Credicorp Profile

Credicorp Ltd. NYSE: BAP is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp's principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.

Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.

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