GQG Partners LLC Acquires Shares of 72,991 Credicorp Ltd. $BAP

Key Points

• GQG Partners acquired 72,991 Credicorp shares worth approximately $28.4 million, giving it about a 0.08% stake. Institutional investors collectively own 89.81% of the company.
• Credicorp reported quarterly EPS of $7.33, slightly above estimates, while revenue of $1.96 billion exceeded the $1.82 billion consensus forecast. The bank posted a 25.04% net margin and 20.52% return on equity.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $418.40; UBS raised its target to $473, while JPMorgan downgraded the stock to “neutral.”

GQG Partners LLC bought a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 72,991 shares of the bank's stock, valued at approximately $28,436,000. GQG Partners LLC owned about 0.08% of Credicorp at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Quantbot Technologies LP acquired a new position in shares of Credicorp during the 2nd quarter worth $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Credicorp in the second quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Credicorp in the 1st quarter valued at approximately $40,000. Brown Brothers Harriman & Co. bought a new stake in shares of Credicorp during the third quarter worth $35,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Credicorp during the fourth quarter worth $42,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Credicorp Trading Up 2.2%

NYSE:BAP opened at $378.51 on Friday. The firm has a 50-day moving average price of $385.34 and a two-hundred day moving average price of $354.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.00. The firm has a market cap of $35.72 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. Credicorp Ltd. has a 52 week low of $230.45 and a 52 week high of $413.24.

Credicorp (NYSE:BAP - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The bank reported $7.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.31 by $0.02. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.82 billion. On average, equities analysts expect that Credicorp Ltd. will post 29.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the sale, the chief executive officer directly owned 7,307 shares in the company, valued at approximately $2,330,933. The trade was a 32.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 15.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings downgraded Credicorp from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday. UBS Group upped their target price on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a report on Thursday. JPMorgan Chase & Co. lowered Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price target on the stock. in a research note on Monday, June 15th. HSBC upgraded shares of Credicorp from a "hold" rating to a "buy" rating and lifted their target price for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group raised their price target on shares of Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Credicorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $418.40.

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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