Credicorp Ltd. $BAP Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE has reduced its holdings in Credicorp Ltd. by 83.0%, selling 161,252 shares in the first quarter and now holds 32,957 shares worth approximately $6.14 million.
• Multiple hedge funds have increased their positions in Credicorp, with Wells Fargo increasing by 45.7% and Jane Street Group by 250.7% during the fourth quarter.
• Recent analyst updates show mixed ratings for Credicorp, with Goldman Sachs upgrading it to a "neutral" rating and Citigroup raising its price target to $275.00, while HSBC downgraded it to a "hold" rating.

Axiom Investors LLC DE trimmed its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 83.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,957 shares of the bank's stock after selling 161,252 shares during the quarter. 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 bought and sold shares of BAP. Wells Fargo & Company MN boosted its holdings in Credicorp by 45.7% during the 4th quarter. Wells Fargo & Company MN now owns 692 shares of the bank's stock valued at $127,000 after acquiring an additional 217 shares during the period. Jane Street Group LLC boosted its holdings in Credicorp by 250.7% during the 4th quarter. Jane Street Group LLC now owns 18,995 shares of the bank's stock valued at $3,482,000 after acquiring an additional 13,579 shares during the period. BNP Paribas Financial Markets boosted its holdings in Credicorp by 119.4% during the 4th quarter. BNP Paribas Financial Markets now owns 38,510 shares of the bank's stock valued at $7,060,000 after acquiring an additional 20,960 shares during the period. Captrust Financial Advisors grew its stake in shares of Credicorp by 4.5% in the fourth quarter. Captrust Financial Advisors now owns 5,339 shares of the bank's stock worth $979,000 after acquiring an additional 230 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Credicorp in the fourth quarter worth $4,786,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on BAP shares. HSBC downgraded shares of Credicorp from a "buy" rating to a "hold" rating and boosted their price target for the stock from $225.00 to $255.00 in a research note on Friday, September 5th. Citigroup boosted their price target on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Hsbc Global Res upgraded shares of Credicorp to a "hold" rating in a research note on Friday, September 5th. Wall Street Zen upgraded shares of Credicorp from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Credicorp currently has a consensus rating of "Hold" and a consensus target price of $239.83.

Credicorp Price Performance

Shares of BAP traded down $0.25 on Friday, reaching $266.34. The stock had a trading volume of 318,591 shares, compared to its average volume of 321,938. The firm has a market capitalization of $21.18 billion, a PE ratio of 14.48, a PEG ratio of 0.73 and a beta of 1.12. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $243.34 and a 200 day moving average of $213.99. Credicorp Ltd. has a twelve month low of $165.51 and a twelve month high of $268.48.

Credicorp (NYSE:BAP - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, topping analysts' consensus estimates of $5.73 by $0.51. The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.52 billion. Credicorp had a return on equity of 16.25% and a net margin of 20.94%. Sell-side analysts expect that Credicorp Ltd. will post 21.9 EPS for the current year.

Credicorp Profile

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.