Credicorp Ltd. $BAP Shares Sold by Bamco Inc. NY

Key Points

• Bamco Inc. NY cut its Credicorp stake by 3.7% in the fourth quarter, selling 10,878 shares and ending with 285,044 shares valued at about $81.8 million.
• Institutional investors remain heavily involved, with firms like Capital World Investors and Invesco increasing their holdings; overall, institutions and hedge funds own 89.81% of the stock.
• Analysts are generally bullish on Credicorp, with Morgan Stanley and HSBC upgrading the stock and the consensus rating standing at Moderate Buy with a $377 target price, while the shares recently traded up 6.6% to $388.36.

Bamco Inc. NY lowered its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 285,044 shares of the bank's stock after selling 10,878 shares during the period. Bamco Inc. NY owned about 0.36% of Credicorp worth $81,808,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Capital World Investors raised its position in shares of Credicorp by 34.7% in the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank's stock worth $630,081,000 after acquiring an additional 565,490 shares during the period. Invesco Ltd. raised its position in shares of Credicorp by 27.4% in the third quarter. Invesco Ltd. now owns 1,349,408 shares of the bank's stock worth $359,320,000 after acquiring an additional 290,585 shares during the period. State Street Corp raised its position in shares of Credicorp by 5.5% in the fourth quarter. State Street Corp now owns 1,336,882 shares of the bank's stock worth $383,685,000 after acquiring an additional 69,329 shares during the period. Schroder Investment Management Group raised its position in shares of Credicorp by 2.2% in the fourth quarter. Schroder Investment Management Group now owns 1,107,420 shares of the bank's stock worth $317,830,000 after acquiring an additional 23,777 shares during the period. Finally, Pzena Investment Management LLC raised its position in shares of Credicorp by 1.5% in the fourth quarter. Pzena Investment Management LLC now owns 1,068,942 shares of the bank's stock worth $306,786,000 after acquiring an additional 15,886 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BAP shares. Morgan Stanley upgraded shares of Credicorp from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $375.00 to $480.00 in a research report on Wednesday. HSBC upgraded shares of Credicorp from a "hold" rating to a "buy" rating and upped their price objective for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Zacks Research downgraded shares of Credicorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. UBS Group upped their price objective on shares of Credicorp from $408.00 to $412.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. downgraded shares of Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price target for the company. in a research report on Monday. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $377.00.

Credicorp Trading Up 6.6%

Shares of Credicorp stock opened at $388.36 on Thursday. The firm has a market capitalization of $36.65 billion, a PE ratio of 14.97, a P/E/G ratio of 0.79 and a beta of 0.89. Credicorp Ltd. has a twelve month low of $213.75 and a twelve month high of $396.03. The firm's 50-day moving average price is $336.50 and its 200 day moving average price is $325.77. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP - Get Free Report) last issued its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. The firm had revenue of $1.81 billion for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. On average, sell-side analysts predict that Credicorp Ltd. will post 29.62 EPS for the current fiscal year.

Insider Transactions at Credicorp

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the sale, the chief financial officer owned 1,745 shares of the company's stock, valued at approximately $588,937.50. The trade was a 38.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is currently owned by corporate 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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