On September 10, 2023, Aristotle Capital Management LLC announced its increased stake in Credicorp Ltd. (NYSE:BAP) during the first quarter. According to the company’s latest filing with the Securities & Exchange Commission, the institutional investor now owns 833,105 shares of Credicorp’s stock after acquiring an additional 4,915 shares in that period. This means that Aristotle Capital Management LLC owns 1.05% of Credicorp, which has a total worth of $110,295,000 based on its most recent SEC filing.
Credicorp Ltd. is a renowned financial institution primarily operating in Peru and internationally. The company offers various financial services and products including banking, insurance, and health services. Its Universal Banking segment focuses on granting different types of credits and financial instruments to individuals and legal entities. Additionally, it provides various deposit options and checking accounts for its customers.
The Insurance and Pensions segment of Credicorp specializes in issuing insurance policies to cover losses related to commercial property, transportation, marine vessels, automobiles, life insurance, health insurance, and pensions. Alongside this core service offering, the company also provides management services for private pension funds.
Having Aristotle Capital Management LLC as a significant stakeholder demonstrates market confidence in Credicorp Ltd.’s performance and potential growth prospects. With substantial investments at hand from institutional investors like Aristotle Capital Management LLC, Credicorp can leverage these resources to further expand its operations both domestically and internationally.
News regarding Aristotle Capital Management LLC’s increased stake in Credicorp signifies their belief in the long-term viability of the financial institution. However, it is important to note that investment decisions should be carefully assessed by individual investors seeking opportunities within the market.
As of now, this update highlights recent developments within Credicorp Ltd., reflecting growing interest from reputable institutional investors such as Aristotle Capital Management LLC. With its diverse range of financial, insurance and health services, Credicorp continues to be an influential player in the Peruvian and international markets. Investors and stakeholders alike will be keen to monitor future developments from this established institution as it progresses in its industry.
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Credicorp Ltd. Generates Investor Interest Despite Quarterly Earnings Variance
Credicorp Ltd., a leading financial institution based in Peru, has been attracting the attention of various large investors recently. These investors have been actively buying and selling shares of the bank’s stock, influencing its overall holdings and value.
One notable investor, Pathstone Family Office LLC, increased its holdings in Credicorp by 2.8% during the third quarter. They now own 2,682 shares of the bank’s stock worth $329,000 after purchasing an additional 72 shares in the last quarter. Similarly, US Bancorp DE boosted its holdings in Credicorp by 10.3% during the first quarter, owning 919 shares worth $122,000 after acquiring an additional 86 shares. Nomura Asset Management Co. Ltd. also joined the trend and increased their holdings by 1.3% during the same time period, accumulating 7,090 shares worth $939,000 after purchasing an additional 90 shares.
O Shaughnessy Asset Management LLC and Park Place Capital Corp were not far behind in this investment spree either. O Shaughnessy Asset Management LLC purchased another 96 shares during the first quarter, bringing their total to 1,697 shares valued at $225,000. Park Place Capital Corp secured an additional share count of 101 during the same period and currently owns 2,052 shares valued at $272,000.
It is interesting to note that institutional investors currently own a significant portion of Credicorp’s stock – around 70.05%. This suggests that larger organizations are confident in the bank’s performance and future prospects.
The recent investor activity surrounding Credicorp has prompted several brokerages to weigh in on the company’s outlook through issuance of reports and ratings. StockNews.com initiated coverage on Credicorp with a “hold” rating on August 17th while Scotiabank upgraded their assessment of the bank from “sector perform” to “sector outperform” on July 7th. Presently, Bloomberg.com data indicates that Credicorp has an average rating of “Moderate Buy,” with one hold rating and four buy ratings. Analysts have set an average price target of $153.00 for the stock.
As of Friday, September 10, 2023, Credicorp’s stock opened at $134.52. The financial institution boasts a market cap of $10.70 billion and has a price-to-earnings ratio of 8.75, reflecting its profitability relative to its valuation. The bank also exhibits a low P/E/G ratio of 0.57 and has a beta of 0.99.
Examining its financial health, Credicorp currently holds a debt-to-equity ratio of 0.46, demonstrating good management of its financial obligations. Furthermore, the company maintains a current ratio and quick ratio both at an even level at 1.01, indicating satisfactory liquidity levels.
Over the past year, Credicorp’s stock has experienced fluctuations within a range of $118.33 to $160.15 per share on the New York Stock Exchange (NYSE). Its fifty-day moving average price stands at $148.69 with the two-hundred day moving average price being slightly lower at $139.63.
In terms of its recent quarterly performance, Credicorp reported earnings per share (EPS) of $3.88 for Q2 on August 14th. Although this fell short of analysts’ consensus estimates by ($0.50) – which had expected EPS figures to be closer to $4.38 – it is essential to remember that quarterly earnings can often be subject to fluctuation and deviation from expectations.
Credicorp’s Q2 revenue came in at $1.04 billion against analyst estimates projecting revenue at $1.26 billion. The bank’s return on equity for the same period was 15.90%, showcasing its ability to generate profits relative to shareholders’ investments. Additionally, Credicorp achieved a net margin of 23.35%, highlighting its efficiency in managing costs.
Looking ahead, analysts predict that Credicorp Ltd. will post a total of 17.63 earnings per share for the current year, encompassing both actual performance and projections.
In summary, Credicorp has attracted significant investor attention as evidenced by recent share purchases and sales by notable institutional investors. While there has been some variance between actual quarterly earnings and analyst estimates, the financial institution remains well-regarded with an average rating of “Moderate Buy,” reflecting optimism for its future growth potential. As Credicorp continues to navigate the dynamic financial landscape, it will likely continue garnering interest from investors seeking exposure to emerging markets like Peru.
