Ninety One North America Inc. Raises Stock Position in Credicorp Ltd. $BAP

Key Points

• Ninety One North America Inc. increased its stake in Credicorp by 9.9% in Q4 to 166,814 shares (about 0.21% of the company), worth roughly $47.9 million and making it the fund's 19th-largest position.
• Credicorp reported a quarterly EPS of $5.91 and shows strong profitability (net margin 24.53%, ROE 20.43%); the stock has a market cap of ~$26.4B and a 12‑month range of $183.51–$380.20.
• Analysts are cautiously positive with four Buy vs three Hold ratings, an average rating of "Moderate Buy" and an average target price of $297.60, while Goldman Sachs raised its target to $330 (neutral).

Ninety One North America Inc. lifted its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 166,814 shares of the bank's stock after buying an additional 14,994 shares during the period. Credicorp makes up about 1.9% of Ninety One North America Inc.'s portfolio, making the stock its 19th largest position. Ninety One North America Inc. owned approximately 0.21% of Credicorp worth $47,876,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Credicorp by 42.2% in the 3rd quarter. Principal Financial Group Inc. now owns 291,175 shares of the bank's stock worth $77,534,000 after buying an additional 86,340 shares during the last quarter. Sovran Advisors LLC purchased a new position in shares of Credicorp in the 4th quarter worth approximately $1,358,000. Nordea Investment Management AB grew its position in shares of Credicorp by 17.4% in the 3rd quarter. Nordea Investment Management AB now owns 27,953 shares of the bank's stock worth $7,479,000 after buying an additional 4,140 shares during the last quarter. Asset Management One Co. Ltd. grew its position in shares of Credicorp by 19.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank's stock worth $3,333,000 after buying an additional 2,023 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Credicorp by 25.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 291,237 shares of the bank's stock worth $77,551,000 after buying an additional 58,690 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Stock Performance

Shares of NYSE BAP opened at $331.84 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a 12 month low of $183.51 and a 12 month high of $380.20. The company has a 50 day simple moving average of $338.90 and a two-hundred day simple moving average of $302.75. The stock has a market cap of $26.39 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.76 and a beta of 0.93.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 EPS 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. As a group, analysts predict that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BAP shares. The Goldman Sachs Group lifted their price objective on shares of Credicorp from $293.00 to $330.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Credicorp in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Credicorp from a "buy" rating to a "hold" rating in a research report on Saturday, December 20th. Finally, Zacks Research downgraded shares of Credicorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $297.60.

About Credicorp

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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