Credicorp Ltd. $BAP Stock Sold by Hosking Partners LLP

Key Points

• Hosking Partners reduced its Credicorp stake by 9% in the third quarter, selling 6,866 shares and retaining 69,120 shares valued at approximately $26.3 million. Institutional investors collectively own 89.81% of the company.
• Analysts remain broadly positive, with five Buy ratings and two Holds giving Credicorp a consensus “Moderate Buy” rating and an average price target of $431.80.
• Credicorp shares opened at $388.40, down 0.6%, with a 52-week range of $230.45 to $413.24 and a market capitalization of approximately $36.66 billion.

Hosking Partners LLP reduced its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 9.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,120 shares of the bank's stock after selling 6,866 shares during the quarter. Hosking Partners LLP owned 0.07% of Credicorp worth $26,257,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. bought a new stake in shares of Credicorp during the second quarter valued at approximately $25,000. Quantbot Technologies LP purchased a new position in Credicorp in the 2nd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. bought a new position in Credicorp in the 2nd quarter valued at approximately $27,000. GAMMA Investing LLC lifted its position 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 in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Credicorp in the 1st quarter valued at approximately $40,000. Institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on BAP shares. UBS Group increased their target price on Credicorp from $412.00 to $473.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Weiss Ratings upgraded Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, October 9th. JPMorgan Chase & Co. raised 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, The Goldman Sachs Group upped their price target on Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $431.80.

Credicorp Stock Down 0.6%

BAP stock opened at $388.40 on Thursday. Credicorp Ltd. has a fifty-two week low of $230.45 and a fifty-two week high of $413.24. The business's 50-day moving average is $380.32 and its two-hundred day moving average is $366.51. 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 company has a market cap of $36.66 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 0.76 and a beta of 0.92.

About Credicorp

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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