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William Blair Investment Management LLC Acquires 48,135 Shares of Credicorp Ltd. $BAP

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Key Points

  • William Blair Investment Management LLC raised its stake in Credicorp Ltd. by 11.2% in Q2, acquiring an additional 48,135 shares, increasing their total holdings to approximately $106.79 million.
  • Various institutional investors, including Aware Super and Allspring Global Investments, have also increased their positions in Credicorp, which is now owned 89.81% by hedge funds and other institutional investors.
  • Research analysts have upgraded Credicorp's stock ratings, with Goldman Sachs moving the rating from "sell" to "neutral" and UBS raising the target price to $318.00.
  • MarketBeat previews the top five stocks to own by November 1st.

William Blair Investment Management LLC increased its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 11.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 477,765 shares of the bank's stock after buying an additional 48,135 shares during the quarter. William Blair Investment Management LLC owned 0.60% of Credicorp worth $106,790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Aware Super Pty Ltd as trustee of Aware Super raised its position in Credicorp by 1.2% in the second quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 51,967 shares of the bank's stock worth $11,616,000 after acquiring an additional 597 shares during the period. INCA Investments LLC increased its stake in shares of Credicorp by 5.8% in the 2nd quarter. INCA Investments LLC now owns 193,947 shares of the bank's stock worth $43,351,000 after purchasing an additional 10,687 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Credicorp by 171.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 119,492 shares of the bank's stock worth $26,603,000 after purchasing an additional 75,487 shares during the period. Natural Investments LLC lifted its position in Credicorp by 7.4% during the second quarter. Natural Investments LLC now owns 3,239 shares of the bank's stock valued at $723,000 after purchasing an additional 222 shares in the last quarter. Finally, Aberdeen Group plc grew its holdings in Credicorp by 2.6% during the second quarter. Aberdeen Group plc now owns 265,179 shares of the bank's stock valued at $59,584,000 after purchasing an additional 6,693 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on BAP shares. The Goldman Sachs Group upgraded Credicorp from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. UBS Group lifted their price target on shares of Credicorp from $257.00 to $318.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Zacks Research raised shares of Credicorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 26th. Hsbc Global Res upgraded shares of Credicorp to a "hold" rating in a research report on Friday, September 5th. Finally, Citigroup upped their target price on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $250.00.

Check Out Our Latest Research Report on BAP

Credicorp Price Performance

Shares of NYSE:BAP opened at $253.91 on Friday. The firm has a market cap of $20.20 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 0.68 and a beta of 1.11. The firm has a fifty day moving average price of $259.43 and a 200 day moving average price of $227.58. Credicorp Ltd. has a fifty-two week low of $165.51 and a fifty-two week high of $280.88. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current 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 EPS for the quarter, topping the consensus estimate of $5.73 by $0.51. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.52 billion. As a group, sell-side analysts expect that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

About Credicorp

(Free Report)

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.

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Institutional Ownership by Quarter for Credicorp (NYSE:BAP)

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