Principal Financial Group Inc. Raises Stock Holdings in Credicorp Ltd. (NYSE:BAP)

Principal Financial Group Inc. grew its holdings in Credicorp Ltd. (NYSE:BAP) by 8.0% in the third quarter, Holdings Channel reports. The institutional investor owned 347,083 shares of the bank’s stock after acquiring an additional 25,742 shares during the quarter. Principal Financial Group Inc.’s holdings in Credicorp were worth $62,812,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Credicorp by 11.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,793 shares of the bank’s stock worth $25,134,000 after acquiring an additional 15,731 shares during the period. Panagora Asset Management Inc. purchased a new stake in shares of Credicorp during the second quarter worth about $11,060,000. Crossmark Global Holdings Inc. raised its position in shares of Credicorp by 4.3% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 3,049 shares of the bank’s stock worth $492,000 after purchasing an additional 126 shares during the last quarter. Atlas Capital Advisors LLC lifted its stake in Credicorp by 14.9% in the 2nd quarter. Atlas Capital Advisors LLC now owns 687 shares of the bank’s stock valued at $111,000 after buying an additional 89 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Credicorp by 7.3% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,745 shares of the bank’s stock worth $443,000 after buying an additional 186 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BAP. JPMorgan Chase & Co. increased their target price on Credicorp from $200.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Bank of America downgraded Credicorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $209.00 to $208.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th.

Credicorp Trading Up 1.1 %

Shares of Credicorp stock opened at $182.13 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s 50 day simple moving average is $188.36 and its 200-day simple moving average is $176.24. The stock has a market cap of $14.49 billion, a P/E ratio of 10.45, a P/E/G ratio of 0.66 and a beta of 1.13. Credicorp Ltd. has a 1-year low of $144.22 and a 1-year high of $200.00.

About Credicorp

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.