Russell Investments Group Ltd. Lowers Stock Holdings in Credicorp Ltd. $BAP

Key Points

• Russell Investments Group Ltd. has reduced its stake in Credicorp Ltd. by 14.9%, owning 97,467 shares worth approximately $18.2 million as of the latest SEC filing.
• Credicorp posted quarterly earnings of $6.24 EPS, exceeding expectations, with revenues of $1.58 billion, while analysts forecast an earnings per share of 21.9 for the current fiscal year.
• Analyst ratings are mixed, with Goldman Sachs upgrading Credicorp to a "neutral" rating, while Wall Street Zen downgraded it to "hold," reflecting diverse market opinions about the company's performance.

Russell Investments Group Ltd. lessened its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 14.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,467 shares of the bank's stock after selling 17,118 shares during the period. Russell Investments Group Ltd. owned 0.12% of Credicorp worth $18,206,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC lifted its holdings in shares of Credicorp by 31.8% during the fourth quarter. Cerity Partners LLC now owns 4,045 shares of the bank's stock worth $735,000 after purchasing an additional 977 shares during the period. GAMMA Investing LLC grew its holdings in Credicorp by 27,522.6% in the first quarter. GAMMA Investing LLC now owns 8,563 shares of the bank's stock worth $1,594,000 after purchasing an additional 8,532 shares during the period. Quantinno Capital Management LP grew its holdings in Credicorp by 29.5% in the fourth quarter. Quantinno Capital Management LP now owns 2,996 shares of the bank's stock worth $549,000 after purchasing an additional 682 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Credicorp during the first quarter worth approximately $122,000. Finally, Quarry LP acquired a new position in shares of Credicorp during the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Credicorp Price Performance

NYSE BAP traded up $4.9850 on Friday, hitting $256.0950. The stock had a trading volume of 87,534 shares, compared to its average volume of 318,657. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $256.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.08. The company has a market capitalization of $20.37 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 0.69 and a beta of 1.09. The firm has a 50-day moving average of $231.79 and a 200-day moving average of $206.45.

Credicorp (NYSE:BAP - Get Free Report) last posted its earnings results 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. Credicorp had a net margin of 20.94% and a return on equity of 16.25%. The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.52 billion. Equities analysts expect that Credicorp Ltd. will post 21.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BAP shares. The Goldman Sachs Group upgraded Credicorp from a "sell" rating to a "neutral" rating and lifted their price target for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Citigroup raised their price target on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday. UBS Group reaffirmed a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Finally, Wall Street Zen cut Credicorp from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Credicorp has a consensus rating of "Moderate Buy" and a consensus target price of $236.80.

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.