ABS Direct Equity Fund LLC Buys Shares of 4,500 Credicorp Ltd. $BAP

Key Points

• ABS Direct Equity Fund LLC purchased 4,500 Credicorp shares worth approximately $1.53 million, making the stock its 29th-largest holding and about 1.2% of its portfolio.
• Institutional investors own approximately 89.81% of Credicorp, with several funds increasing or initiating positions recently.
• Credicorp shares opened at $388.77, near their 52-week high of $403.30. Analysts maintain a “Moderate Buy” consensus, with an average price target of $384.33, while Morgan Stanley set the highest target at $480.

ABS Direct Equity Fund LLC purchased a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,500 shares of the bank's stock, valued at approximately $1,526,000. Credicorp accounts for approximately 1.2% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 29th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sovran Advisors LLC purchased a new position in Credicorp in the fourth quarter worth $1,358,000. Assetmark Inc. boosted its position in shares of Credicorp by 8.4% during the 4th quarter. Assetmark Inc. now owns 21,820 shares of the bank's stock worth $6,262,000 after purchasing an additional 1,688 shares in the last quarter. Ninety One North America Inc. grew its stake in shares of Credicorp by 9.9% during the 4th quarter. Ninety One North America Inc. now owns 166,814 shares of the bank's stock worth $47,876,000 after purchasing an additional 14,994 shares during the period. SG Americas Securities LLC increased its holdings in shares of Credicorp by 7,441.9% in the 4th quarter. SG Americas Securities LLC now owns 32,053 shares of the bank's stock valued at $9,199,000 after purchasing an additional 31,628 shares in the last quarter. Finally, Novem Group acquired a new stake in shares of Credicorp in the fourth quarter valued at about $1,189,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Stock Performance

Credicorp stock opened at $388.77 on Monday. Credicorp Ltd. has a fifty-two week low of $230.25 and a fifty-two week high of $403.30. The company has a market capitalization of $36.69 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.84 and a beta of 0.88. The stock has a fifty day moving average of $366.95 and a two-hundred day moving average of $346.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Weiss Ratings downgraded Credicorp from a "buy (a-)" rating to a "buy (b)" rating in a research note on Friday, May 29th. UBS Group boosted their target price on Credicorp from $408.00 to $412.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. HSBC raised Credicorp from a "hold" rating to a "buy" rating and upped their target price for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. The Goldman Sachs Group lifted their price target on Credicorp from $329.00 to $374.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Finally, Morgan Stanley upgraded 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 report on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $384.33.

Insiders Place Their Bets

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the sale, the chief financial officer directly owned 1,745 shares of the company's stock, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 7,307 shares of the company's stock, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is owned by insiders.

Credicorp Company 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.

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