William Blair Investment Management LLC Takes $243.54 Million Position in Credicorp Ltd. $BAP

William Blair Investment Management LLC acquired a new position in shares of Credicorp Ltd. (NYSE:BAP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 625,144 shares of the bank’s stock, valued at approximately $243,544,000. Credicorp comprises approximately 0.7% of William Blair Investment Management LLC’s portfolio, making the stock its 25th largest holding. William Blair Investment Management LLC owned about 0.66% of Credicorp at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Credicorp during the third quarter valued at about $35,000. Raymond James Financial Inc. acquired a new position in shares of Credicorp in the second quarter valued at approximately $38,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Credicorp in the 1st quarter valued at approximately $40,000. Kestra Advisory Services LLC bought a new position in Credicorp in the 4th quarter valued at approximately $42,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Credicorp during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Stock Performance

Shares of BAP stock opened at $378.51 on Friday. The stock has a market capitalization of $35.72 billion, a PE ratio of 14.02, a PEG ratio of 0.73 and a beta of 0.90. The business’s 50 day simple moving average is $385.34 and its 200 day simple moving average is $354.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.02. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Friday, August 14th. The bank reported $7.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $0.02. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.82 billion. As a group, research analysts forecast that Credicorp Ltd. will post 29.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction on Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BAP shares. UBS Group boosted their target price on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a report on Thursday. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Weiss Ratings downgraded Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday. Finally, The Goldman Sachs Group raised their target price on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $418.40.

Credicorp Profile

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.