Axiom Investors LLC DE Sells 161,252 Shares of Credicorp Ltd. $BAP

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 decreased its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 83.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in Credicorp by 37.1% in the 1st quarter. Cerity Partners LLC now owns 5,545 shares of the bank's stock valued at $1,032,000 after buying an additional 1,500 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Credicorp by 27,522.6% during the 1st quarter. GAMMA Investing LLC now owns 8,563 shares of the bank's stock worth $1,594,000 after purchasing an additional 8,532 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Credicorp by 29.5% during the 4th quarter. Quantinno Capital Management LP now owns 2,996 shares of the bank's stock worth $549,000 after purchasing an additional 682 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Credicorp during the 1st quarter worth approximately $122,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of Credicorp by 8.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 10,876 shares of the bank's stock worth $2,025,000 after purchasing an additional 837 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Stock Performance

Credicorp stock traded down $0.25 during mid-day trading on Friday, reaching $266.34. The company's stock had a trading volume of 318,591 shares, compared to its average volume of 376,988. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $268.48. The company has a market capitalization of $21.18 billion, a P/E ratio of 14.48, a PEG ratio of 0.74 and a beta of 1.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08. The firm's fifty day moving average price is $244.12 and its two-hundred day moving average price is $214.58.

Credicorp (NYSE:BAP - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, beating analysts' consensus estimates of $5.73 by $0.51. Credicorp had a net margin of 23.11% and a return on equity of 18.05%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. Sell-side analysts predict that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BAP. HSBC lowered shares of Credicorp from a "buy" rating to a "hold" rating and raised their price target for the stock from $225.00 to $255.00 in a research note on Friday, September 5th. The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and raised their price target for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. Citigroup raised 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. UBS Group reiterated a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Finally, Wall Street Zen upgraded shares of Credicorp from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Credicorp currently has an average rating of "Hold" and a consensus price target of $239.83.

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.