Public Employees Retirement System of Ohio Makes New Investment in Credicorp Ltd. $BAP

Key Points

• Public Employees Retirement System of Ohio bought 71,306 Credicorp shares worth approximately $27.8 million, acquiring about 0.08% of the company. Institutional investors and hedge funds collectively own 89.81% of the stock.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $418.40; targets range from $374 to $480.
• Credicorp beat quarterly expectations with EPS of $7.33 versus a $7.31 consensus and revenue of $1.96 billion versus $1.82 billion expected. Meanwhile, CEO Diego Antonio Cavero sold 3,500 shares at an average price of $319.

Public Employees Retirement System of Ohio purchased a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 71,306 shares of the bank's stock, valued at approximately $27,779,000. Public Employees Retirement System of Ohio owned approximately 0.08% of Credicorp at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. TD Asset Management Inc lifted its stake in shares of Credicorp by 1.6% in the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank's stock valued at $532,000 after purchasing an additional 29 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Credicorp by 21.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank's stock worth $52,000 after buying an additional 32 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Credicorp by 0.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank's stock worth $2,916,000 after buying an additional 42 shares during the last quarter. Fiduciary Trust Co raised its holdings in Credicorp by 1.8% during the third quarter. Fiduciary Trust Co now owns 2,849 shares of the bank's stock valued at $759,000 after buying an additional 50 shares in the last quarter. Finally, CWM LLC raised its holdings in Credicorp by 16.2% during the fourth quarter. CWM LLC now owns 394 shares of the bank's stock valued at $113,000 after buying an additional 55 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the sale, the chief executive officer owned 7,307 shares of the company's stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 15.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. downgraded Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price target for the company. in a research note on Monday, June 15th. The Goldman Sachs Group lifted their price target on shares of Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Morgan Stanley raised shares of Credicorp from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. Weiss Ratings lowered shares of Credicorp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, August 20th. Finally, UBS Group lifted their target price on shares of Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $418.40.

Credicorp Stock Down 1.0%

BAP opened at $369.53 on Friday. Credicorp Ltd. has a fifty-two week low of $230.45 and a fifty-two week high of $413.24. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $34.88 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.73 and a beta of 0.90. The firm's fifty day moving average price is $385.48 and its two-hundred day moving average price is $354.60.

Credicorp (NYSE:BAP - Get Free Report) last issued its earnings results on Friday, August 14th. The bank reported $7.33 EPS for the quarter, beating the consensus estimate of $7.31 by $0.02. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.82 billion. On average, analysts anticipate that Credicorp Ltd. will post 29.41 EPS for the current year.

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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