Citigroup Inc. Buys 29,251 Shares of Credicorp Ltd. (NYSE:BAP)

Key Points

• Citigroup Inc. increased its stake in Credicorp Ltd. by 16.2% in Q1, owning 210,191 shares valued at approximately $39.1 million.
• Other institutional investors also raised their holdings, with notable increases from firms like Headlands Technologies LLC and Fourth Sail Capital LP, reflecting strong interest in the bank's stock.
• Analysts have mixed views on Credicorp, with firms like Goldman Sachs upgrading its rating to "neutral" and a consensus rating of "Hold" among research analysts.

Citigroup Inc. lifted its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 16.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 210,191 shares of the bank's stock after buying an additional 29,251 shares during the period. Citigroup Inc. owned about 0.26% of Credicorp worth $39,129,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in shares of Credicorp by 31.8% during the 4th quarter. Cerity Partners LLC now owns 4,045 shares of the bank's stock worth $735,000 after buying an additional 977 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 8,532 shares during the period. Quantinno Capital Management LP grew its holdings in Credicorp by 29.5% during the fourth 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 period. Penserra Capital Management LLC bought a new position in Credicorp during the first quarter worth about $122,000. Finally, First Trust Advisors LP grew its holdings in Credicorp by 42.0% during the fourth quarter. First Trust Advisors LP now owns 3,298 shares of the bank's stock worth $605,000 after purchasing an additional 975 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAP has been the subject of a number of research analyst reports. UBS Group reiterated a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. The Goldman Sachs Group upgraded Credicorp from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $174.00 to $225.00 in a report on Thursday, July 24th. Finally, Wall Street Zen downgraded shares of Credicorp from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $227.25.

Credicorp Price Performance

Shares of NYSE BAP traded up $1.48 during midday trading on Friday, reaching $251.84. The company's stock had a trading volume of 559,793 shares, compared to its average volume of 335,578. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.03. Credicorp Ltd. has a fifty-two week low of $165.18 and a fifty-two week high of $255.39. The business's 50 day moving average price is $229.05 and its two-hundred day moving average price is $204.60. The company has a market cap of $20.03 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.78 and a beta of 1.09.

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.