Credicorp Ltd. $BAP Stock: Ninety One UK Ltd Boosts Stake

Key Points

• Ninety One UK Ltd increased its Credicorp stake by 31.5% in the third quarter, adding 109,905 shares to own 458,660 shares valued at approximately $174.2 million. Institutional investors collectively hold 89.81% of BAP.
• Analyst sentiment is generally positive: Credicorp has an average “Moderate Buy” rating and an average price target of $431.80, with JPMorgan, Morgan Stanley and UBS among firms raising their targets or ratings.
• Credicorp shares recently traded at $391.09, near their 52-week high of $413.24, with a market capitalization of about $36.9 billion and a price-to-earnings ratio of 14.49.

Ninety One UK Ltd boosted its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 31.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,660 shares of the bank's stock after buying an additional 109,905 shares during the quarter. Ninety One UK Ltd owned approximately 0.49% of Credicorp worth $174,231,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BAP. Ninety One North America Inc. lifted its holdings in shares of Credicorp by 23.2% during the third quarter. Ninety One North America Inc. now owns 116,216 shares of the bank's stock valued at $44,147,000 after acquiring an additional 21,918 shares during the period. Henry James International Management Inc. boosted its stake in shares of Credicorp by 14.5% in the 3rd quarter. Henry James International Management Inc. now owns 2,871 shares of the bank's stock valued at $1,091,000 after purchasing an additional 363 shares in the last quarter. Euro Pacific Asset Management LLC bought a new stake in shares of Credicorp in the 3rd quarter worth about $207,000. GAMMA Investing LLC grew its holdings in shares of Credicorp by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 111 shares of the bank's stock worth $42,000 after purchasing an additional 28 shares during the last quarter. Finally, Fig Financial Advisory Services Inc. ADV bought a new stake in shares of Credicorp in the 3rd quarter worth about $1,317,000. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, October 9th. JPMorgan Chase & Co. raised shares of Credicorp from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $453.00 to $482.00 in a report on Wednesday, September 16th. Morgan Stanley upgraded shares of Credicorp from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. UBS Group boosted their target price on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Finally, The Goldman Sachs Group boosted their target price on Credicorp from $329.00 to $374.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $431.80.

Credicorp Price Performance

Shares of Credicorp stock traded up $7.15 during midday trading on Thursday, reaching $391.09. The company had a trading volume of 160,292 shares, compared to its average volume of 418,512. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $36.91 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.74 and a beta of 0.92. The stock has a fifty day simple moving average of $379.71 and a 200 day simple moving average of $364.55. Credicorp Ltd. has a 1-year low of $230.45 and a 1-year high of $413.24.

About Credicorp

Credicorp Ltd. NYSE: BAP is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, investment management, pension administration and investment banking services to individuals, businesses and institutional clients.

Its principal businesses include Banco de Crédito del Perú, one of Peru's leading banks; Mibanco, which focuses on microfinance and small-business lending; Pacífico Seguros, an insurance provider; Prima AFP, which manages private pension accounts; and Credicorp Capital, which offers investment banking, asset management, brokerage and related capital-markets services.

Credicorp's operations are centered primarily in Peru, with selected investment banking and capital-markets activities serving clients elsewhere in the Latin American region.

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