Amundi Raises Stock Holdings in Credicorp Ltd. $BAP

Key Points

• Amundi increased its Credicorp stake by 11.7% in the first quarter, adding 44,469 shares to reach 423,450 shares valued at approximately $143.6 million. Institutional investors and hedge funds collectively own 89.81% of the stock.
• Credicorp shares opened at $401.22, near their 52-week high of $413.25. Analysts maintain a “Moderate Buy” consensus, with an average price target of $384.33, while Morgan Stanley raised its target to $480.
• Credicorp’s CEO and CFO recently sold shares, reducing their respective holdings by 32.39% and 38.08%; company insiders still own 15.90% of the stock.

Amundi grew its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 11.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 423,450 shares of the bank's stock after buying an additional 44,469 shares during the quarter. Amundi owned 0.45% of Credicorp worth $143,626,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its stake in shares of Credicorp by 34.7% in the fourth 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 last quarter. Royal Bank of Canada raised its position in shares of Credicorp by 0.8% in the first quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank's stock valued at $584,042,000 after buying an additional 13,249 shares during the last quarter. Invesco Ltd. raised its position in shares of Credicorp by 2.3% in the fourth quarter. Invesco Ltd. now owns 1,380,791 shares of the bank's stock valued at $396,287,000 after buying an additional 31,383 shares during the last quarter. State Street Corp lifted its stake in shares of Credicorp by 5.5% in the fourth quarter. State Street Corp now owns 1,336,882 shares of the bank's stock worth $383,685,000 after buying an additional 69,329 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Credicorp by 2.2% in the fourth quarter. Schroder Investment Management Group now owns 1,107,420 shares of the bank's stock worth $317,830,000 after buying an additional 23,777 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Price Performance

Shares of NYSE:BAP opened at $401.22 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.25. The business's fifty day moving average price is $373.73 and its two-hundred day moving average price is $349.27. The stock has a market cap of $37.87 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 0.87 and a beta of 0.88.

Analyst Ratings Changes

Several research firms have weighed in on BAP. Morgan Stanley upgraded shares of Credicorp from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. UBS Group increased their target price on shares of Credicorp from $408.00 to $412.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. HSBC upgraded shares of Credicorp from a "hold" rating to a "buy" rating and raised their price objective 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 report on Thursday, July 16th. Finally, Weiss Ratings downgraded Credicorp from a "buy (a-)" rating to a "buy (b)" rating in a report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $384.33.

Insider Activity

In other news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp 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 completion of the sale, the chief executive officer directly owned 7,307 shares in the company, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the transaction, the chief financial officer directly owned 1,745 shares of the company's stock, valued at approximately $588,937.50. This represents a 38.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is owned by company insiders.

About Credicorp

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.