Oppenheimer Asset Management Inc. Takes Position in Credicorp Ltd. $BAP

Key Points

• Oppenheimer Asset Management acquired 8,892 shares of Credicorp valued at approximately $3.46 million, while institutional investors collectively own 89.81% of the stock.
• Credicorp shares opened at $386.98, near their 12-month high of $413.24. Analysts maintain a “Moderate Buy” consensus, with an average price target of $384.33.
• CEO Diego Antonio Cavero and CFO Alejandro Perez-Reyes sold shares, reducing their respective holdings by 32.39% and 38.08%; insiders own 15.90% of the company.

Oppenheimer Asset Management Inc. acquired a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,892 shares of the bank's stock, valued at approximately $3,464,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. TD Asset Management Inc grew its holdings in Credicorp by 1.6% during the fourth quarter. TD Asset Management Inc now owns 1,853 shares of the bank's stock worth $532,000 after purchasing an additional 29 shares during the period. CIBC Private Wealth Group LLC raised its stake in Credicorp by 21.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank's stock valued at $52,000 after buying an additional 32 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Credicorp by 0.4% in the fourth 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. Fiduciary Trust Co lifted its position in shares of Credicorp by 1.8% in the third quarter. Fiduciary Trust Co now owns 2,849 shares of the bank's stock valued at $759,000 after buying an additional 50 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Credicorp by 16.2% in the fourth quarter. CWM LLC now owns 394 shares of the bank's stock valued at $113,000 after buying an additional 55 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Credicorp Price Performance

Credicorp stock opened at $386.98 on Friday. Credicorp Ltd. has a 12 month low of $230.45 and a 12 month high of $413.24. The stock's 50 day moving average is $383.23 and its 200-day moving average is $353.55. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $36.52 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.84 and a beta of 0.90.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BAP. UBS Group boosted their target price on Credicorp from $408.00 to $412.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Morgan Stanley raised Credicorp from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. JPMorgan Chase & Co. cut shares of Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price objective for the company. in a research report on Monday, June 15th. The Goldman Sachs Group upped their price objective on shares of Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Finally, HSBC raised shares of Credicorp from a "hold" rating to a "buy" rating and increased their price objective for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $384.33.

Insiders Place Their Bets

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the business's stock in a transaction dated 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 approximately $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 shares were 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. The trade was a 38.08% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 15.90% of the company's stock.

About Credicorp

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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