Vanguard Group Inc. Has $107.64 Million Holdings in Credicorp Ltd. $BAP

Key Points

• Vanguard Group Inc. has reduced its stake in Credicorp Ltd. by 12.4%, selling 81,699 shares and now holding 578,205 shares, valued at approximately $107.6 million.
• Several institutional investors, including Wells Fargo and Dimensional Fund Advisors, have increased their investments in Credicorp during the fourth quarter, reflecting strong interest from hedge funds.
• Credicorp reported EPS of $6.24, significantly exceeding analyst expectations, while analysts have upgraded the stock to a "Moderate Buy" rating with a revised target price of $275.00 from Citigroup.

Vanguard Group Inc. reduced its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 12.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578,205 shares of the bank's stock after selling 81,699 shares during the quarter. Vanguard Group Inc. owned 0.73% of Credicorp worth $107,639,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Fiduciary Trust Co raised its holdings in shares of Credicorp by 4.3% during the fourth quarter. Fiduciary Trust Co now owns 1,939 shares of the bank's stock valued at $356,000 after acquiring an additional 80 shares during the period. Deltec Asset Management LLC raised its holdings in shares of Credicorp by 4.3% during the first quarter. Deltec Asset Management LLC now owns 2,400 shares of the bank's stock valued at $447,000 after acquiring an additional 100 shares during the period. Fifth Third Bancorp raised its holdings in shares of Credicorp by 1.5% during the first quarter. Fifth Third Bancorp now owns 6,645 shares of the bank's stock valued at $1,237,000 after acquiring an additional 101 shares during the period. Stifel Financial Corp raised its holdings in shares of Credicorp by 0.3% during the fourth quarter. Stifel Financial Corp now owns 40,366 shares of the bank's stock valued at $7,400,000 after acquiring an additional 123 shares during the period. Finally, Ritholtz Wealth Management raised its holdings in shares of Credicorp by 2.1% during the first quarter. Ritholtz Wealth Management now owns 9,202 shares of the bank's stock valued at $1,713,000 after acquiring an additional 188 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Credicorp Stock Up 1.5%

BAP stock traded up $3.73 during trading hours on Thursday, hitting $256.06. The company's stock had a trading volume of 257,946 shares, compared to its average volume of 374,516. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $20.37 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.70 and a beta of 1.09. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $256.99. The stock has a 50 day moving average price of $235.39 and a two-hundred day moving average price of $208.67.

Credicorp (NYSE:BAP - Get Free Report) last posted its earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, topping the consensus estimate of $5.73 by $0.51. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.52 billion. Credicorp had a net margin of 20.94% and a return on equity of 16.25%. On average, equities research analysts expect that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BAP. Wall Street Zen upgraded shares of Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Citigroup upped their price objective 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. UBS Group reiterated a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Finally, The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and upped their price objective for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Credicorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $236.80.

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.