The Manufacturers Life Insurance Company Takes Position in Credicorp Ltd. $BAP

The Manufacturers Life Insurance Company bought a new position in Credicorp Ltd. (NYSE:BAP - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 71,098 shares of the bank's stock, valued at approximately $27,698,000. The Manufacturers Life Insurance Company owned approximately 0.08% of Credicorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in Credicorp in the 2nd quarter valued at $1,933,666,000. Pzena Investment Management LLC acquired a new position in Credicorp in the second quarter worth $325,911,000. Bank of Nova Scotia bought a new stake in shares of Credicorp during the second quarter worth $311,294,000. William Blair Investment Management LLC bought a new stake in shares of Credicorp during the second quarter worth $243,544,000. Finally, Capital World Investors grew its holdings in shares of Credicorp by 34.7% during the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank's stock worth $630,081,000 after purchasing an additional 565,490 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 7,307 shares in the company, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.90% of the company's stock.

Credicorp Stock Down 2.6%

NYSE BAP opened at $372.56 on Friday. The stock has a market capitalization of $35.16 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 0.75 and a beta of 0.90. Credicorp Ltd. has a 52 week low of $230.45 and a 52 week high of $413.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average of $385.74 and a 200-day moving average of $354.50.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BAP shares. JPMorgan Chase & Co. cut Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price target for the company. in a report on Monday, June 15th. HSBC raised shares of Credicorp from a "hold" rating to a "buy" rating and increased their price objective for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Weiss Ratings cut shares of Credicorp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, August 20th. The Goldman Sachs Group boosted their target price on shares of Credicorp from $329.00 to $374.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Finally, Morgan Stanley upgraded shares of Credicorp from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $418.40.

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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