Artemis Investment Management LLP Trims Stock Holdings in Credicorp Ltd. $BAP

Key Points

• Artemis Investment Management reduced its Credicorp stake by 18% in the third quarter, selling 45,107 shares and ending with 205,824 shares valued at approximately $78.2 million.
• Credicorp shares rose 2.2% to $384.56, giving the company a market capitalization of about $36.3 billion. Institutional investors collectively own 89.81% of the stock.
• Analyst sentiment remains positive, with five Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $431.80.

Artemis Investment Management LLP trimmed its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 18.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,824 shares of the bank's stock after selling 45,107 shares during the quarter. Artemis Investment Management LLP owned 0.22% of Credicorp worth $78,186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. purchased a new stake in Credicorp during the second quarter valued at approximately $25,000. Quantbot Technologies LP bought a new position in shares of Credicorp during the 2nd quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Credicorp during the 2nd quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Credicorp during the 1st quarter valued at $40,000. Finally, Allworth Financial LP bought a new stake in Credicorp in the second quarter worth $66,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Trading Up 2.2%

Credicorp stock traded up $8.45 during trading hours on Thursday, hitting $384.56. The company had a trading volume of 169,972 shares, compared to its average volume of 422,290. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $36.29 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.75 and a beta of 0.92. The company has a 50-day moving average price of $381.23 and a two-hundred day moving average price of $362.72. Credicorp Ltd. has a 1 year low of $230.45 and a 1 year high of $413.24.

Analyst Ratings Changes

Several research firms have commented on BAP. JPMorgan Chase & Co. raised shares of Credicorp from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $453.00 to $482.00 in a research note on Wednesday, September 16th. Weiss Ratings lowered shares of Credicorp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, September 25th. UBS Group raised their price objective on shares of Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. The Goldman Sachs Group upped their target price on Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Finally, Morgan Stanley upgraded Credicorp from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $431.80.

Credicorp Profile

Credicorp Ltd. NYSE: BAP is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, investment management, pension administration and investment banking services to individuals, businesses and institutional clients.

Its principal businesses include Banco de Crédito del Perú, one of Peru's leading banks; Mibanco, which focuses on microfinance and small-business lending; Pacífico Seguros, an insurance provider; Prima AFP, which manages private pension accounts; and Credicorp Capital, which offers investment banking, asset management, brokerage and related capital-markets services.

Credicorp's operations are centered primarily in Peru, with selected investment banking and capital-markets activities serving clients elsewhere in the Latin American region.

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