California State Teachers Retirement System Acquires 4,233 Shares of Credicorp Ltd. $BAP

Key Points

• California State Teachers Retirement System increased its Credicorp stake by 69.7% in the first quarter, purchasing 4,233 additional shares. Its total holdings were valued at approximately $3.5 million, while institutional investors collectively owned 89.81% of the stock.
• Credicorp shares opened at $386.37, near the analyst consensus target of $384.33, with a 52-week range of $230.45 to $413.24. Analysts maintain a “Moderate Buy” consensus, including five Buy and three Hold ratings.
• Credicorp’s CEO and CFO recently sold shares, reducing their holdings by 32.39% and 38.08%, respectively; insiders collectively own 15.90% of the company.

California State Teachers Retirement System boosted its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 69.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,310 shares of the bank's stock after buying an additional 4,233 shares during the quarter. California State Teachers Retirement System's holdings in Credicorp were worth $3,497,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Credicorp by 0.8% in the 1st quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank's stock worth $584,042,000 after acquiring an additional 13,249 shares in the last quarter. Quantinno Capital Management LP grew its stake in Credicorp by 15.0% in the first quarter. Quantinno Capital Management LP now owns 10,341 shares of the bank's stock valued at $3,508,000 after purchasing an additional 1,348 shares during the last quarter. ABS Direct Equity Fund LLC purchased a new position in Credicorp in the first quarter valued at about $1,526,000. Compound Planning Inc. raised its holdings in Credicorp by 7.2% in the first quarter. Compound Planning Inc. now owns 1,899 shares of the bank's stock worth $644,000 after purchasing an additional 127 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Credicorp by 15.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 842,780 shares of the bank's stock worth $285,854,000 after purchasing an additional 112,418 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Credicorp Stock Performance

BAP opened at $386.37 on Friday. The company has a market cap of $36.47 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90. 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's 50-day moving average price is $378.57 and its 200-day moving average price is $351.95. Credicorp Ltd. has a 52-week low of $230.45 and a 52-week high of $413.24.

Analyst Upgrades and Downgrades

BAP has been the topic of a number of recent analyst reports. HSBC upgraded shares of Credicorp from a "hold" rating to a "buy" rating and raised their price target for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Morgan Stanley upgraded shares of Credicorp from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. JPMorgan Chase & Co. cut shares of Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 target price for the company. in a research report on Monday, June 15th. Weiss Ratings upgraded shares of Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday. Finally, UBS Group upped their price target on Credicorp from $408.00 to $412.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Credicorp has a consensus rating of "Moderate Buy" and a consensus target price of $384.33.

Insider Activity at Credicorp

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction 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. The trade was a 32.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $362,137.50. Following the transaction, the chief financial officer owned 1,745 shares of the company's stock, valued at approximately $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.90% of the stock is currently owned by insiders.

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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