Credicorp Ltd. $BAP Shares Sold by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System cut its Credicorp stake by 2.9% in the first quarter, selling 3,770 shares and leaving it with 127,228 shares worth about $43.2 million.
• Several large institutions remain heavily invested in Credicorp, and 89.81% of the stock is owned by institutional investors and hedge funds.
• Company insiders have also been selling shares: the CFO and CEO both reduced their positions in recent transactions, while analysts currently rate the stock a Moderate Buy with a consensus price target of $384.33.

California Public Employees Retirement System trimmed its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 127,228 shares of the bank's stock after selling 3,770 shares during the period. California Public Employees Retirement System owned 0.13% of Credicorp worth $43,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BAP. Capital World Investors lifted its stake in shares of Credicorp by 34.7% during the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank's stock worth $630,081,000 after purchasing an additional 565,490 shares in the last quarter. Invesco Ltd. grew its stake in shares of Credicorp by 2.3% in the fourth quarter. Invesco Ltd. now owns 1,380,791 shares of the bank's stock valued at $396,287,000 after buying an additional 31,383 shares in the last quarter. State Street Corp grew its stake 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 valued at $383,685,000 after buying an additional 69,329 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Credicorp by 2.2% during the 4th quarter. Schroder Investment Management Group now owns 1,107,420 shares of the bank's stock valued at $317,830,000 after buying an additional 23,777 shares during the period. Finally, Pzena Investment Management LLC raised its holdings in shares of Credicorp by 1.5% during the 4th quarter. Pzena Investment Management LLC now owns 1,068,942 shares of the bank's stock valued at $306,786,000 after buying an additional 15,886 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the transaction, the chief financial officer directly owned 1,745 shares in the company, valued at approximately $588,937.50. This represents a 38.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.90% of the company's stock.

Credicorp Trading Down 1.1%

Shares of BAP opened at $386.29 on Tuesday. The company has a market capitalization of $36.46 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.85 and a beta of 0.88. Credicorp Ltd. has a one year low of $225.49 and a one year 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. The stock has a 50-day moving average price of $361.42 and a 200 day moving average price of $343.39.

Analyst Ratings Changes

A number of equities analysts have weighed in on BAP shares. HSBC upgraded Credicorp from a "hold" rating to a "buy" rating and upped their price target for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. JPMorgan Chase & Co. lowered shares of Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price objective on the stock. in a research note on Monday, June 15th. The Goldman Sachs Group boosted their target price on shares of Credicorp from $329.00 to $374.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. UBS Group upped their target price on shares of Credicorp from $408.00 to $412.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings downgraded shares of Credicorp from a "buy (a-)" rating to a "buy (b)" rating in a research note 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $384.33.

Credicorp Company 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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