Credicorp Ltd. $BAP Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its Credicorp stake by 2,670.9% in the first quarter, ending with 32,336 shares valued at about $10.97 million.
• Credicorp stock was trading near its 52-week high, opening at $389.30 with a market cap of $36.74 billion; the company also has a low debt-to-equity ratio of 0.36.
• Analysts remain cautiously positive, with a Moderate Buy consensus and an average price target of $377, while recent insider sales were reported by the CFO and CEO.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 2,670.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,336 shares of the bank's stock after buying an additional 31,169 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Credicorp were worth $10,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Credicorp during the third quarter worth about $35,000. Raymond James Financial Inc. purchased a new position in shares of Credicorp in the 2nd quarter valued at approximately $38,000. Kestra Advisory Services LLC purchased a new position in shares of Credicorp in the 4th quarter valued at approximately $42,000. Quarry LP acquired a new stake in Credicorp in the 3rd quarter worth approximately $46,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credicorp during the 4th quarter worth approximately $46,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Price Performance

Shares of BAP opened at $389.30 on Tuesday. The business's 50-day moving average is $354.70 and its two-hundred day moving average is $339.82. The company has a market capitalization of $36.74 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.87 and a beta of 0.88. Credicorp Ltd. has a fifty-two week low of $216.87 and a fifty-two week high of $403.30. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02.

Analysts Set New Price Targets

BAP has been the subject of several research reports. UBS Group lifted their price objective on shares of Credicorp from $408.00 to $412.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Morgan Stanley upgraded Credicorp from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. JPMorgan Chase & Co. lowered Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price objective on the stock. in a report on Monday, June 15th. HSBC raised Credicorp from a "hold" rating to a "buy" rating and lifted their target price for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Finally, Weiss Ratings lowered shares of Credicorp from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Credicorp presently has an average rating of "Moderate Buy" and an average price target of $377.00.

Insider Activity

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the completion of the transaction, the chief financial officer directly owned 1,745 shares of the company's stock, valued at approximately $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. 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 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 value of $1,116,500.00. Following the completion of the transaction, the chief executive officer directly owned 7,307 shares of the company's stock, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is owned by company insiders.

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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