Credicorp Ltd. $BAP Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its Credicorp stake by 9.6% in the third quarter, selling 11,200 shares; it retained 105,200 shares valued at about $40.1 million.
• Institutional investors own 89.81% of Credicorp. Other investors adjusted positions, including Amundi, which increased its holdings by 26.4% in the second quarter.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $431.80. Shares opened at $348.36, below their 50-day average of $376.

Candriam S.C.A. decreased its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 9.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,200 shares of the bank's stock after selling 11,200 shares during the period. Candriam S.C.A. owned about 0.11% of Credicorp worth $40,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BAP. Amundi increased its holdings in Credicorp by 26.4% in the second quarter. Amundi now owns 535,235 shares of the bank's stock worth $208,517,000 after buying an additional 111,785 shares during the last quarter. Ashoka WhiteOak Capital Pte Ltd bought a new position in Credicorp during the second quarter valued at approximately $3,611,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Credicorp in the second quarter valued at approximately $3,857,000. Trillium Asset Management LLC acquired a new stake in Credicorp in the second quarter valued at approximately $6,065,000. Finally, Korea Investment CORP bought a new stake in Credicorp in the second quarter worth approximately $10,986,000. 89.81% of the stock is currently owned by institutional investors.

Credicorp Price Performance

Shares of BAP opened at $348.36 on Friday. The stock has a 50 day simple moving average of $376.00 and a 200 day simple moving average of $359.91. Credicorp Ltd. has a 52-week low of $230.45 and a 52-week high of $413.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $32.88 billion, a PE ratio of 12.91, a P/E/G ratio of 0.67 and a beta of 0.89.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BAP. UBS Group increased their price target on shares of Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. 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. JPMorgan Chase & Co. upgraded shares of Credicorp from a "neutral" rating to an "overweight" rating and upped their price target for the company from $453.00 to $482.00 in a report on Wednesday, September 16th. Finally, Weiss Ratings raised Credicorp from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Credicorp presently has an average rating of "Moderate Buy" and a consensus price target of $431.80.

Credicorp Company Profile

Credicorp is a financial services holding company based in Lima, Peru. Through its subsidiaries, it provides commercial and retail banking, insurance, pension-fund management, investment banking, wealth management, microfinance and digital payment services.

Its businesses include Banco de Crédito del Perú (BCP), the country's largest bank; Pacífico Seguros; pension administrator Prima AFP; investment and wealth-management firm Credicorp Capital; and microfinance bank Mibanco. BCP traces its history to 1889, when it was established as Banco Italiano.

Credicorp's operations are centered in Peru, with additional activities in other Latin American markets, particularly through Credicorp Capital.

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