Credicorp Ltd. $BAP Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its Credicorp stake by 2.7% in the third quarter, selling 4,335 shares; it retained 156,305 shares valued at about $59.4 million.
• Institutional investors and hedge funds own 89.81% of Credicorp, with several other funds reporting small additions to their holdings.
• Analysts give Credicorp a consensus “Moderate Buy” rating and a $431.80 average price target; shares opened at $351.78 on Wednesday.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 156,305 shares of the bank's stock after selling 4,335 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.17% of Credicorp worth $59,376,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BAP. GAMMA Investing LLC raised its holdings in Credicorp by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 111 shares of the bank's stock valued at $42,000 after acquiring an additional 28 shares during the last quarter. Aprio Wealth Management LLC boosted its holdings in shares of Credicorp by 1.9% during the third quarter. Aprio Wealth Management LLC now owns 1,548 shares of the bank's stock worth $588,000 after purchasing an additional 29 shares during the last quarter. Allworth Financial LP grew its position in shares of Credicorp by 42.9% in the second quarter. Allworth Financial LP now owns 170 shares of the bank's stock valued at $66,000 after purchasing an additional 51 shares during the period. Confluence Investment Management LLC increased its stake in Credicorp by 6.9% in the second quarter. Confluence Investment Management LLC now owns 946 shares of the bank's stock valued at $369,000 after purchasing an additional 61 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. acquired a new position in Credicorp in the second quarter valued at $25,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Credicorp Price Performance

BAP opened at $351.78 on Wednesday. Credicorp Ltd. has a 52-week low of $230.45 and a 52-week high of $413.24. The company has a 50 day moving average of $377.67 and a two-hundred day moving average of $359.48. The company has a market cap of $33.20 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.68 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.

Analyst Ratings Changes

A number of brokerages have issued reports on BAP. UBS Group raised their price target on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. JPMorgan Chase & Co. raised shares of Credicorp from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $453.00 to $482.00 in a research note on Wednesday, September 16th. Weiss Ratings upgraded shares of Credicorp from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, October 23rd. Finally, The Goldman Sachs Group raised 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. One research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $431.80.

Credicorp Profile

Credicorp Ltd. NYSE: BAP is a Peru-based financial services holding company whose businesses provide banking, insurance, investment management and pension services. Its principal subsidiary is Banco de Crédito del Perú (BCP), one of Peru's largest banks, which serves individual, business and corporate customers through deposits, lending, payments, treasury and other financial products.

Credicorp also operates Mibanco, a financial institution focused on microfinance and small businesses, and Pacífico Seguros, which offers life, health, property and casualty insurance.

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