Ashoka WhiteOak Capital Pte Ltd Buys New Holdings in Credicorp Ltd. $BAP

Key Points

• Ashoka WhiteOak Capital purchased 9,270 Credicorp shares worth approximately $3.6 million, making the stock its 15th-largest portfolio holding at 0.8% of assets.
• Institutional ownership remains high at 89.81%, with several major investors—including Capital World Investors, Invesco and Principal Financial—recently increasing their stakes.
• Credicorp shares opened at $386.98, near the analyst consensus target of $384.33. Analyst sentiment is “Moderate Buy,” though insider selling and mixed ratings remain notable.

Ashoka WhiteOak Capital Pte Ltd purchased a new position in Credicorp Ltd. (NYSE:BAP - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,270 shares of the bank's stock, valued at approximately $3,611,000. Credicorp accounts for about 0.8% of Ashoka WhiteOak Capital Pte Ltd's investment portfolio, making the stock its 15th largest position.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors boosted its holdings in shares of Credicorp by 34.7% during the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank's stock worth $630,081,000 after purchasing an additional 565,490 shares during the period. Norges Bank purchased a new stake in Credicorp in the fourth quarter worth $150,814,000. PFA Pension Forsikringsaktieselskab purchased a new position in Credicorp during the 4th quarter valued at $89,754,000. Invesco Ltd. raised its holdings in Credicorp by 27.4% in the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank's stock worth $359,320,000 after purchasing an additional 290,585 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Credicorp by 98.9% during the 4th quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank's stock valued at $166,239,000 after purchasing an additional 288,056 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Transactions at Credicorp

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp 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 transaction, the chief financial officer owned 1,745 shares of the company's stock, valued at $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction on Friday, June 5th. The stock was 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 of the company's stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is owned by insiders.

Credicorp Price Performance

Shares of Credicorp stock opened at $386.98 on Monday. The stock has a market cap of $36.52 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.84 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The stock's fifty day moving average is $383.23 and its 200 day moving average is $353.59. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley raised Credicorp from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. UBS Group upped their price target on Credicorp from $408.00 to $412.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. 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 note on Monday, June 15th. Weiss Ratings raised Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, August 6th. Finally, HSBC raised Credicorp from a "hold" rating to a "buy" rating and lifted their price target for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $384.33.

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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