Wellington Management Group LLP Sells 63,403 Shares of Credicorp Ltd. $BAP

Key Points

• Wellington Management Group LLP has reduced its stake in Credicorp Ltd. by 31.4%, selling 63,403 shares during the first quarter, and now holds 138,591 shares valued at approximately $25.8 million.
• Several institutional investors have significantly increased their positions in Credicorp, with Itau Unibanco raising its stake by 243.8% and Teacher Retirement System of Texas growing its stake by 811.5%.
• Analysts have set a positive outlook on Credicorp, with new price targets raised, including Citigroup's adjustment from $255 to $275 and Goldman Sachs upgrading the stock to neutral with a target of $225.

Wellington Management Group LLP reduced its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 31.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138,591 shares of the bank's stock after selling 63,403 shares during the period. Wellington Management Group LLP owned about 0.17% of Credicorp worth $25,800,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new stake in Credicorp during the 1st quarter worth about $40,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Credicorp in the 4th quarter worth approximately $40,000. Farther Finance Advisors LLC raised its position in 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 purchasing an additional 217 shares during the last quarter. Quarry LP bought a new position in Credicorp in the 4th quarter worth approximately $47,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Credicorp in the 1st quarter worth approximately $108,000. Institutional investors own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

BAP has been the subject of several recent research reports. Citigroup boosted their price objective on Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Wall Street Zen raised Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. UBS Group reissued a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Finally, The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $174.00 to $225.00 in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $236.80.

Credicorp Trading Up 0.2%

Shares of Credicorp stock traded up $0.56 during trading hours on Friday, hitting $256.65. The company's stock had a trading volume of 442,590 shares, compared to its average volume of 368,794. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $258.70. The stock has a 50 day moving average of $236.15 and a 200 day moving average of $209.14. The company has a market capitalization of $20.41 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08.

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 the consensus estimate of $5.73 by $0.51. Credicorp had a return on equity of 16.25% and a net margin of 20.94%.The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.52 billion. Analysts predict that Credicorp Ltd. will post 21.9 earnings per share for the current 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.