Aberdeen Group plc Cuts Position in Credicorp Ltd. $BAP

Aberdeen Group plc lowered its position in shares of Credicorp Ltd. (NYSE:BAP) by 3.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 256,641 shares of the bank’s stock after selling 8,538 shares during the quarter. Aberdeen Group plc owned about 0.32% of Credicorp worth $68,170,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its position in Credicorp by 7.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock valued at $808,985,000 after buying an additional 223,497 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Credicorp by 4.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,293 shares of the bank’s stock valued at $368,873,000 after acquiring an additional 67,249 shares during the period. State Street Corp raised its stake in shares of Credicorp by 1.6% in the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock valued at $267,673,000 after acquiring an additional 19,361 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Credicorp by 17.1% during the 2nd quarter. Bank of Nova Scotia now owns 1,015,409 shares of the bank’s stock valued at $226,964,000 after acquiring an additional 148,062 shares in the last quarter. Finally, ARGA Investment Management LP boosted its position in Credicorp by 1.3% during the 3rd quarter. ARGA Investment Management LP now owns 698,267 shares of the bank’s stock worth $185,935,000 after purchasing an additional 8,758 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Stock Performance

Credicorp stock opened at $329.36 on Monday. Credicorp Ltd. has a 52 week low of $165.51 and a 52 week high of $380.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock has a market cap of $26.20 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 0.73 and a beta of 0.87. The stock has a 50 day moving average of $314.46 and a 200-day moving average of $277.47.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Thursday, February 12th. The bank reported $5.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a return on equity of 21.54% and a net margin of 24.53%.The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.77 billion. On average, analysts expect that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. The Goldman Sachs Group boosted their price target on Credicorp from $263.00 to $293.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $290.20.

About Credicorp

Credicorp Ltd. (NYSE: BAP) is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp’s principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.

Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.