Hsbc Holdings PLC Has $59.31 Million Position in Credicorp Ltd. $BAP

Key Points

• HSBC Holdings PLC significantly increased its stake in Credicorp during the first quarter, lifting holdings by 905.9% to 175,121 shares, worth about $59.3 million.
• Credicorp stock was trading near the top of its range, opening at $391.64 with a market cap of $36.96 billion; the shares are up modestly and are above both their 50-day and 200-day moving averages.
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and an average price target of $384.33, though recent insider sales by the CFO and CEO reduced their holdings.

Hsbc Holdings PLC lifted its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 905.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 175,121 shares of the bank's stock after acquiring an additional 157,711 shares during the quarter. Hsbc Holdings PLC owned approximately 0.19% of Credicorp worth $59,315,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. TD Asset Management Inc grew its stake in Credicorp by 1.6% in the fourth quarter. TD Asset Management Inc now owns 1,853 shares of the bank's stock valued at $532,000 after purchasing an additional 29 shares in the last quarter. Cigna Investments Inc. New raised its stake in shares of Credicorp by 2.8% during the 4th quarter. Cigna Investments Inc. New now owns 1,172 shares of the bank's stock worth $336,000 after purchasing an additional 32 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Credicorp by 21.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank's stock worth $52,000 after purchasing an additional 32 shares in the last quarter. Perpetual Ltd boosted its holdings in shares of Credicorp by 0.5% in the 4th quarter. Perpetual Ltd now owns 6,418 shares of the bank's stock valued at $1,842,000 after buying an additional 34 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Credicorp by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank's stock valued at $2,916,000 after buying an additional 42 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Credicorp Stock Up 0.3%

Credicorp stock opened at $391.64 on Monday. The stock has a market cap of $36.96 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.85 and a beta of 0.88. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a twelve month low of $224.94 and a twelve month high of $403.30. The company's 50-day moving average price is $360.14 and its two-hundred day moving average price is $342.70.

Analyst Ratings Changes

BAP has been the topic of a number of recent analyst reports. 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 report on Thursday. UBS Group increased their price target on shares of Credicorp from $408.00 to $412.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Weiss Ratings downgraded shares of Credicorp from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday, May 29th. Morgan Stanley upgraded shares of Credicorp from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. cut shares of Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 target price on the stock. in a report on Monday, June 15th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $384.33.

Insider Activity at Credicorp

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the sale, the chief financial officer directly owned 1,745 shares of the company's stock, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the business's 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 completion of the sale, the chief executive officer owned 7,307 shares of the company's stock, valued at $2,330,933. This trade represents a 32.39% 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 corporate insiders.

Credicorp Company 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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