Ninety One North America Inc. Sells 2,691 Shares of Credicorp Ltd. $BAP

Key Points

• Ninety One North America Inc. reduced its stake in Credicorp Ltd. by 1.3%, selling 2,691 shares and now holding 206,849 shares, which represent 2.3% of its portfolio.
• Several institutional investors have increased their stakes in Credicorp, with a significant 2,170% growth in holdings from Farther Finance Advisors LLC in the first quarter.
• Analysts have upgraded their ratings on Credicorp, with Citigroup raising its price target from $255 to $275 and Zacks Research increasing its rating from "hold" to "strong-buy."

Ninety One North America Inc. trimmed its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206,849 shares of the bank's stock after selling 2,691 shares during the period. Credicorp comprises 2.3% of Ninety One North America Inc.'s portfolio, making the stock its 16th largest position. Ninety One North America Inc. owned 0.26% of Credicorp worth $46,235,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BAP. SVB Wealth LLC bought a new stake in shares of Credicorp in the first quarter worth about $35,000. Cullen Frost Bankers Inc. bought a new stake in shares of Credicorp in the 1st quarter worth approximately $40,000. Farther Finance Advisors LLC grew its position in shares of Credicorp by 2,170.0% in the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock worth $44,000 after buying an additional 217 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Credicorp during the first quarter valued at approximately $78,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Credicorp during the first quarter valued at approximately $88,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on BAP. Citigroup raised their price target on Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Zacks Research raised shares of Credicorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 26th. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and lifted their target price for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, Hsbc Global Res upgraded shares of Credicorp to a "hold" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $250.00.

Credicorp Trading Down 0.4%

NYSE BAP opened at $266.46 on Wednesday. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $280.88. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49. The stock's fifty day moving average price is $254.21 and its 200-day moving average price is $221.76. The stock has a market cap of $21.19 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.72 and a beta of 1.12.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.73 by $0.51. The company had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.52 billion. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. As a group, equities analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Credicorp Company Profile

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.

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