Credicorp Ltd. (NYSE:BAP) Shares Sold by Prudential PLC

Key Points

• Prudential PLC reduced its holdings in Credicorp Ltd. by 32.8% in the first quarter, owning 4,980 shares worth approximately $927,000.
• Several institutions, including LPL Financial and AllianceBernstein, have increased their stakes in Credicorp, indicating a strong interest from institutional investors.
• Analysts have mixed ratings for Credicorp, with Goldman Sachs upgrading the company from a "sell" to "neutral," alongside a revised target price of $225.00.

Prudential PLC lessened its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 32.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,980 shares of the bank's stock after selling 2,436 shares during the quarter. Prudential PLC's holdings in Credicorp were worth $927,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BAP. LPL Financial LLC lifted its stake in Credicorp by 44.4% in the fourth quarter. LPL Financial LLC now owns 4,419 shares of the bank's stock valued at $810,000 after buying an additional 1,358 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Credicorp by 40.3% in the fourth quarter. Alliancebernstein L.P. now owns 3,513 shares of the bank's stock valued at $644,000 after buying an additional 1,009 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Credicorp by 45.7% in the fourth quarter. Wells Fargo & Company MN now owns 692 shares of the bank's stock valued at $127,000 after buying an additional 217 shares during the last quarter. Cerity Partners LLC lifted its stake in Credicorp by 31.8% in the fourth quarter. Cerity Partners LLC now owns 4,045 shares of the bank's stock valued at $735,000 after buying an additional 977 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its stake in Credicorp by 8.9% in the fourth quarter. Guggenheim Capital LLC now owns 6,536 shares of the bank's stock valued at $1,198,000 after buying an additional 534 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BAP shares. Wall Street Zen cut Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. UBS Group reiterated a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Finally, The Goldman Sachs Group upgraded Credicorp from a "sell" rating to a "neutral" rating and raised their target price for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $227.25.

Credicorp Price Performance

Shares of NYSE BAP opened at $251.84 on Friday. Credicorp Ltd. has a fifty-two week low of $165.18 and a fifty-two week high of $255.39. The firm's 50-day simple moving average is $229.05 and its 200 day simple moving average is $204.60. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.49. The stock has a market cap of $20.03 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.78 and a beta of 1.09.

Credicorp Company Profile

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.

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