UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Raises Stock Position in Credicorp Ltd. $BAP

Key Points

• UBS Asset Management has increased its stake in Credicorp Ltd. by 1.0%, acquiring an additional 13,592 shares, bringing its total holdings to approximately 1.69% of the company, valued at $250.1 million.
• Institutional investors now own 89.81% of Credicorp's stock, with several firms making significant increases in their stakes during the recent quarters.
• According to recent analyst reports, Credicorp has a consensus rating of "Hold" with a target price range from $239.83 to $275.00, following a quarterly earnings report that exceeded expectations.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,343,531 shares of the bank's stock after purchasing an additional 13,592 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.69% of Credicorp worth $250,112,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new stake in Credicorp during the first quarter valued at $77,577,000. Millennium Management LLC grew its stake in shares of Credicorp by 853.1% in the first quarter. Millennium Management LLC now owns 319,076 shares of the bank's stock worth $59,399,000 after acquiring an additional 285,597 shares during the last quarter. Teacher Retirement System of Texas grew its position in Credicorp by 811.5% in the 1st quarter. Teacher Retirement System of Texas now owns 229,129 shares of the bank's stock worth $42,655,000 after purchasing an additional 203,992 shares during the last quarter. Carrhae Capital LLP increased its stake in Credicorp by 389.0% during the first quarter. Carrhae Capital LLP now owns 198,875 shares of the bank's stock valued at $37,023,000 after acquiring an additional 158,206 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of Credicorp by 21.8% in the 1st quarter. Bank of Nova Scotia now owns 867,347 shares of the bank's stock valued at $161,465,000 after buying an additional 155,162 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. HSBC downgraded shares of Credicorp from a "buy" rating to a "hold" rating and lifted their price target for the company from $225.00 to $255.00 in a report on Friday, September 5th. UBS Group restated a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and increased their target price for the stock from $174.00 to $225.00 in a report on Thursday, July 24th. Citigroup lifted their price target on shares of Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Finally, Hsbc Global Res upgraded Credicorp to a "hold" rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $239.83.

Credicorp Stock Down 0.1%

Shares of NYSE BAP traded down $0.25 during midday trading on Friday, reaching $266.34. 318,591 shares of the company's stock traded hands, compared to its average volume of 376,988. Credicorp Ltd. has a one year low of $165.51 and a one year high of $268.48. The stock's 50 day simple moving average is $244.12 and its 200-day simple moving average is $214.58. The company has a market cap of $21.18 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 0.74 and a beta of 1.12. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49.

Credicorp (NYSE:BAP - Get Free Report) last posted 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. Credicorp had a net margin of 23.11% and a return on equity of 18.05%. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.52 billion. On average, analysts predict that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

About Credicorp

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.