Wellington Management Group LLP Has $25.80 Million Holdings in 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 cut its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 31.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,591 shares of the bank's stock after selling 63,403 shares during the quarter. Wellington Management Group LLP owned approximately 0.17% of Credicorp worth $25,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Credicorp in the fourth quarter worth $40,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Credicorp in the 1st quarter valued at $40,000. Farther Finance Advisors LLC lifted its stake in shares of Credicorp by 2,170.0% in the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock valued at $44,000 after purchasing an additional 217 shares during the last quarter. Quarry LP acquired a new stake in shares of Credicorp in the 4th quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Credicorp in the 1st quarter valued at $108,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Stock Performance

NYSE:BAP traded up $0.56 during midday trading on Friday, reaching $256.65. The stock had a trading volume of 442,590 shares, compared to its average volume of 371,509. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $258.70. The firm's fifty day simple moving average is $236.15 and its 200-day simple moving average is $209.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $20.41 billion, a P/E ratio of 13.96, a PEG ratio of 0.71 and a beta of 1.12.

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

Analysts Set New Price Targets

BAP has been the subject of several analyst reports. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. UBS Group reaffirmed a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Finally, Citigroup lifted 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. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Credicorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.80.

Credicorp 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.