Amundi Has $208.52 Million Holdings in Credicorp Ltd. $BAP

Key Points

• Amundi increased its Credicorp stake by 26.4% in the second quarter, acquiring 111,785 additional shares and bringing its holdings to 535,235 shares valued at approximately $208.5 million.
• Institutional ownership remains high at 89.81%, with BlackRock, California State Teachers Retirement System, Capital World Investors, RBC and Invesco among major holders that expanded or initiated positions.
• Credicorp shares opened at $378.28, while analysts maintain a “Moderate Buy” consensus with an average price target of $418.40; Morgan Stanley and UBS raised their targets to $480 and $473, respectively.

Amundi grew its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 26.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 535,235 shares of the bank's stock after buying an additional 111,785 shares during the quarter. Amundi owned approximately 0.57% of Credicorp worth $208,517,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in BAP. BlackRock Inc. purchased a new stake in shares of Credicorp in the second quarter valued at $1,933,666,000. California State Teachers Retirement System boosted its position in Credicorp by 39,776.2% during the 2nd quarter. California State Teachers Retirement System now owns 4,111,238 shares of the bank's stock worth $1,601,656,000 after acquiring an additional 4,100,928 shares during the period. Capital World Investors boosted its position in Credicorp by 34.7% during the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank's stock worth $630,081,000 after acquiring an additional 565,490 shares during the period. Royal Bank of Canada grew its stake in Credicorp by 0.8% during the 1st quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank's stock valued at $584,042,000 after acquiring an additional 13,249 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Credicorp by 2.3% in the 4th quarter. Invesco Ltd. now owns 1,380,791 shares of the bank's stock valued at $396,287,000 after purchasing an additional 31,383 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Stock Down 1.1%

Credicorp stock opened at $378.28 on Wednesday. The company has a market capitalization of $35.70 billion, a P/E ratio of 14.02, a P/E/G ratio of 0.75 and a beta of 0.88. The firm's fifty day simple moving average is $385.06 and its 200-day simple moving average is $356.52. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Credicorp Ltd. has a 1-year low of $230.45 and a 1-year high of $413.24.

Analysts Set New Price Targets

BAP has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, September 3rd. Morgan Stanley raised shares of Credicorp from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. UBS Group boosted their price target on shares of Credicorp from $412.00 to $473.00 and gave the company a "buy" rating in a report on Thursday, August 20th. HSBC raised shares of Credicorp from a "hold" rating to a "buy" rating and upped their price target for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Finally, JPMorgan Chase & Co. cut Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price objective for the company. in a research report on Monday, June 15th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Credicorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $418.40.

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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