Axiom Investors LLC DE Purchases 15,230 Shares of Credicorp Ltd. $BAP

Key Points

• Axiom Investors LLC DE increased its stake in Credicorp by 41.5% in Q4, buying 15,230 more shares and bringing its total holding to 51,915 shares valued at about $14.9 million.
• Institutional ownership remains very high, with several other firms also adding to positions; overall, 89.81% of Credicorp’s stock is held by institutional investors.
• Analysts remain constructive on the stock, with a Moderate Buy consensus and a $356.40 average price target, while Credicorp recently traded around $349.71 after a 9.3% move higher.

Axiom Investors LLC DE lifted its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 41.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,915 shares of the bank's stock after purchasing an additional 15,230 shares during the period. Axiom Investors LLC DE owned about 0.07% of Credicorp worth $14,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Letko Brosseau & Associates Inc. boosted its holdings in Credicorp by 4.1% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 101,221 shares of the bank's stock valued at $29,050,000 after acquiring an additional 3,950 shares during the last quarter. LPL Financial LLC boosted its holdings in Credicorp by 53.0% in the fourth quarter. LPL Financial LLC now owns 10,806 shares of the bank's stock valued at $3,101,000 after acquiring an additional 3,745 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Credicorp by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 131,725 shares of the bank's stock valued at $37,805,000 after acquiring an additional 5,758 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Credicorp by 19.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,742 shares of the bank's stock valued at $5,666,000 after acquiring an additional 3,277 shares during the last quarter. Finally, CenterBook Partners LP boosted its holdings in Credicorp by 27.9% in the fourth quarter. CenterBook Partners LP now owns 1,161 shares of the bank's stock valued at $333,000 after acquiring an additional 253 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BAP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Credicorp from $412.00 to $415.00 and gave the stock an "overweight" rating in a report on Thursday, May 28th. Zacks Research cut Credicorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Weiss Ratings lowered Credicorp from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday, May 29th. The Goldman Sachs Group upped their target price on Credicorp from $293.00 to $330.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 17th. Finally, UBS Group upped their target price on Credicorp from $408.00 to $412.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $356.40.

Credicorp Stock Up 9.3%

BAP stock opened at $349.71 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $33.01 billion, a PE ratio of 13.48, a PEG ratio of 0.69 and a beta of 0.89. Credicorp Ltd. has a twelve month low of $212.31 and a twelve month high of $380.20. The stock has a 50-day simple moving average of $332.79 and a two-hundred day simple moving average of $320.89.

Credicorp (NYSE:BAP - Get Free Report) last posted its earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. The business had revenue of $1.81 billion during the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. On average, equities analysts predict that Credicorp Ltd. will post 29.61 EPS for the current fiscal year.

Insider Transactions at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction dated 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 in the company, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $1,116,500.00. Following the sale, the chief executive officer owned 7,307 shares of the company's stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 15.90% of the company's stock.

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.

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