Aristotle Capital Management LLC Sells 12,065 Shares of Credicorp Ltd. $BAP

Key Points

• Aristotle Capital Management trimmed its Credicorp stake by 1.6% in the first quarter, selling 12,065 shares and ending with 747,328 shares valued at about $253.5 million.
• Several other institutional investors also adjusted holdings, and overall 89.81% of Credicorp stock is owned by institutions, highlighting strong institutional interest in the company.
• Analysts remain broadly constructive: Credicorp has a Moderate Buy consensus rating, with five Buy ratings and three Hold ratings, and an average price target of $384.33.

Aristotle Capital Management LLC decreased its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 747,328 shares of the bank's stock after selling 12,065 shares during the period. Aristotle Capital Management LLC owned about 0.79% of Credicorp worth $253,494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Credicorp in the 1st quarter valued at $78,000. Cetera Investment Advisers lifted its holdings in shares of Credicorp by 36.3% in the second quarter. Cetera Investment Advisers now owns 1,786 shares of the bank's stock worth $399,000 after acquiring an additional 476 shares during the last quarter. State Street Corp lifted its holdings in shares of Credicorp by 1.6% in the second quarter. State Street Corp now owns 1,197,536 shares of the bank's stock worth $267,673,000 after acquiring an additional 19,361 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Credicorp in the 2nd quarter valued at approximately $355,000. Finally, Quantinno Capital Management LP boosted its stake in shares of Credicorp by 24.7% in the 2nd quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank's stock valued at $1,222,000 after purchasing an additional 1,083 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BAP has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Credicorp from $329.00 to $374.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. cut shares of Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 target price on the stock. in a research note on Monday, June 15th. Weiss Ratings downgraded shares of Credicorp from a "buy (a-)" rating to a "buy (b)" rating in a report on Friday, May 29th. HSBC upgraded Credicorp from a "hold" rating to a "buy" rating and increased their price target for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Finally, UBS Group boosted their price objective on Credicorp from $408.00 to $412.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $384.33.

Credicorp Trading Up 0.3%

BAP opened at $388.77 on Friday. Credicorp Ltd. has a twelve month low of $230.25 and a twelve month high of $403.30. The company has a fifty day moving average of $366.95 and a 200-day moving average of $345.92. The stock has a market cap of $36.69 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.84 and a beta of 0.88. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Insider Activity

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the sale, the chief financial officer owned 1,745 shares of the company's stock, valued at $588,937.50. This trade represents a 38.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the sale, the chief executive officer directly owned 7,307 shares of the company's stock, valued at $2,330,933. This represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 15.90% of the company's stock.

Credicorp 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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