Sei Investments Co. Buys 28,157 Shares of Credicorp Ltd. $BAP

Key Points

• Sei Investments Co. increased its stake in Credicorp by 9.9% in Q1, buying 28,157 additional shares and bringing its total holding to 311,487 shares worth about $105.7 million.
• Wall Street sentiment is generally positive: Credicorp has a Moderate Buy consensus rating, with five analysts rating it Buy and three Hold, and a consensus price target of $384.33.
• Credicorp shares were down 1.3% on the day, even as the stock traded near its 52-week high of $403.30; insiders also sold shares recently, including the CFO and CEO.

Sei Investments Co. grew its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 311,487 shares of the bank's stock after acquiring an additional 28,157 shares during the quarter. Sei Investments Co. owned 0.33% of Credicorp worth $105,651,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Capital World Investors raised its stake in Credicorp by 34.7% during the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank's stock worth $630,081,000 after acquiring an additional 565,490 shares in the last quarter. Invesco Ltd. raised its position in shares of Credicorp by 2.3% during the fourth quarter. Invesco Ltd. now owns 1,380,791 shares of the bank's stock worth $396,287,000 after acquiring an additional 31,383 shares during the last quarter. State Street Corp grew its holdings in Credicorp by 5.5% during the 4th quarter. State Street Corp now owns 1,336,882 shares of the bank's stock worth $383,685,000 after acquiring an additional 69,329 shares during the period. Schroder Investment Management Group increased its stake in Credicorp by 2.2% in the fourth quarter. Schroder Investment Management Group now owns 1,107,420 shares of the bank's stock valued at $317,830,000 after purchasing an additional 23,777 shares in the last quarter. Finally, Pzena Investment Management LLC raised its position in shares of Credicorp by 1.5% during the fourth quarter. Pzena Investment Management LLC now owns 1,068,942 shares of the bank's stock worth $306,786,000 after purchasing an additional 15,886 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Analysts Set New Price Targets

BAP has been the subject of a number of analyst reports. HSBC upgraded Credicorp from a "hold" rating to a "buy" rating and raised their price target for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. UBS Group boosted their price objective on shares of Credicorp from $408.00 to $412.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. lowered shares of Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 target price on the stock. in a research report on Monday, June 15th. Morgan Stanley upgraded shares of Credicorp from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. Finally, The Goldman Sachs Group raised their price objective on Credicorp from $329.00 to $374.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $384.33.

Credicorp Trading Down 1.3%

BAP opened at $388.51 on Friday. The company has a market cap of $36.67 billion, a P/E ratio of 14.98, a PEG ratio of 0.86 and a beta of 0.88. 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's 50 day moving average is $365.49 and its 200-day moving average is $345.61. Credicorp Ltd. has a 1-year low of $230.25 and a 1-year high of $403.30.

Insiders Place Their Bets

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. The trade was a 38.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp 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 sale, the chief executive officer directly owned 7,307 shares in the company, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 15.90% of the company's stock.

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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