Freemont Management S.A. Buys Shares of 9,064 Credicorp Ltd. $BAP

Key Points

• Freemont Management S.A. opened a new position in Credicorp, buying 9,064 shares in Q1 worth about $3.07 million.
• Analysts remain generally constructive on the stock: Credicorp has a Moderate Buy consensus with an average price target of $384.33, while Goldman Sachs, HSBC, and UBS recently adjusted targets and ratings.
• Company insiders have been trimming holdings, with CEO Diego Antonio Cavero and CFO Alejandro Perez-Reyes both selling shares in recent transactions.

Freemont Management S.A. bought a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,064 shares of the bank's stock, valued at approximately $3,074,000.

Several other institutional investors also recently modified their holdings of BAP. Brown Brothers Harriman & Co. acquired a new stake in shares of Credicorp in the 3rd quarter valued at approximately $35,000. Raymond James Financial Inc. acquired a new position in Credicorp during the second quarter valued at approximately $38,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Credicorp during the first quarter valued at approximately $40,000. Kestra Advisory Services LLC bought a new stake in Credicorp in the fourth quarter valued at approximately $42,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Credicorp in the fourth quarter valued at approximately $46,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a report on Thursday. Weiss Ratings cut shares of Credicorp from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday, May 29th. JPMorgan Chase & Co. downgraded 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. HSBC upgraded Credicorp from a "hold" rating to a "buy" rating and lifted their target price for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Finally, UBS Group increased their price target on Credicorp from $408.00 to $412.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $384.33.

Insiders Place Their Bets

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction on Friday, June 5th. The shares were sold at an average price of $319.00, for a total value of $1,116,500.00. Following the sale, the chief executive officer directly owned 7,307 shares in the company, valued at approximately $2,330,933. The trade was a 32.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the sale, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This trade represents a 38.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.90% of the stock is currently owned by company insiders.

Credicorp Trading Up 1.1%

NYSE:BAP opened at $391.64 on Friday. Credicorp Ltd. has a twelve month low of $224.94 and a twelve month high of $403.30. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $360.14 and a two-hundred day moving average price of $342.34. The company has a market cap of $36.96 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88.

Credicorp 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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