Axiom Investors LLC DE Cuts Stock Holdings in Credicorp Ltd. $BAP

Key Points

• Axiom Investors LLC DE has significantly reduced its stake in Credicorp Ltd. by 83.0%, now owning only 32,957 shares after selling 161,252 shares in the first quarter.
• Despite the sell-off by Axiom Investors, several other institutional investors have recently initiated or increased their stakes in Credicorp, reflecting ongoing interest in the company, which is 89.81% owned by institutional shareholders.
• Credicorp reported a strong earnings performance, with an EPS of $6.24, surpassing analysts' estimates, and has recently received upgrades from multiple brokerages, including a price target increase from $255 to $275 by Citigroup.

Axiom Investors LLC DE lessened its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 83.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,957 shares of the bank's stock after selling 161,252 shares during the period. Axiom Investors LLC DE's holdings in Credicorp were worth $6,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BAP. Cerity Partners LLC increased its stake in Credicorp by 37.1% during the 1st quarter. Cerity Partners LLC now owns 5,545 shares of the bank's stock worth $1,032,000 after acquiring an additional 1,500 shares during the period. GAMMA Investing LLC grew its stake in shares of Credicorp by 27,522.6% during the first quarter. GAMMA Investing LLC now owns 8,563 shares of the bank's stock worth $1,594,000 after buying an additional 8,532 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Credicorp by 29.5% in the 4th quarter. Quantinno Capital Management LP now owns 2,996 shares of the bank's stock valued at $549,000 after acquiring an additional 682 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Credicorp during the 1st quarter valued at $122,000. Finally, Quarry LP bought a new stake in Credicorp during the 4th quarter worth $47,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on BAP shares. Wall Street Zen upgraded Credicorp from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and raised their price objective for the company from $174.00 to $225.00 in a report on Thursday, July 24th. UBS Group reiterated a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. Finally, Citigroup upped their price target on shares of Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.80.

Credicorp Stock Performance

NYSE BAP traded up $3.73 during trading hours on Thursday, reaching $256.06. 257,946 shares of the company were exchanged, compared to its average volume of 318,382. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $256.99. The business's 50 day simple moving average is $234.62 and its 200-day simple moving average is $208.23. The stock has a market capitalization of $20.37 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.70 and a beta of 1.09. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, beating the consensus estimate of $5.73 by $0.51. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.52 billion. Credicorp had a net margin of 20.94% and a return on equity of 16.25%. On average, equities research analysts expect that Credicorp Ltd. will post 21.9 earnings per share for the current year.

About Credicorp

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.