TT International Asset Management LTD Sells 97,079 Shares of Credicorp Ltd. $BAP

Key Points

• TT International Asset Management cut its Credicorp stake by 27.3% in the third quarter, selling 97,079 shares. It held 258,417 shares afterward, worth about $98.2 million, and Credicorp remained its second-largest portfolio holding.
• Other institutional investors made mixed moves, while institutional investors and hedge funds collectively owned 89.81% of Credicorp.
• Analysts’ average rating was “Moderate Buy,” with an average price target of $431.80; Credicorp shares opened at $351.78 in the article’s cited session.

TT International Asset Management LTD decreased its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 27.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 258,417 shares of the bank's stock after selling 97,079 shares during the quarter. Credicorp accounts for approximately 10.9% of TT International Asset Management LTD's investment portfolio, making the stock its 2nd biggest holding. TT International Asset Management LTD owned 0.27% of Credicorp worth $98,165,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credicorp in the third quarter valued at approximately $60,000. Aprio Wealth Management LLC grew its holdings in Credicorp by 1.9% during the third quarter. Aprio Wealth Management LLC now owns 1,548 shares of the bank's stock worth $588,000 after buying an additional 29 shares in the last quarter. Ashoka WhiteOak Capital Pte Ltd grew its holdings in Credicorp by 103.1% during the third quarter. Ashoka WhiteOak Capital Pte Ltd now owns 18,830 shares of the bank's stock worth $7,231,000 after buying an additional 9,560 shares in the last quarter. Inspire Investing LLC raised its position in Credicorp by 9.7% in the 3rd quarter. Inspire Investing LLC now owns 6,399 shares of the bank's stock valued at $2,431,000 after buying an additional 567 shares during the last quarter. Finally, Genesee Capital Advisors LLC raised its position in Credicorp by 4.2% in the 3rd quarter. Genesee Capital Advisors LLC now owns 2,778 shares of the bank's stock valued at $1,055,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Credicorp Stock Performance

Shares of Credicorp stock opened at $351.78 on Wednesday. The business's fifty day simple moving average is $377.67 and its 200 day simple moving average is $359.48. The firm has a market capitalization of $33.20 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 0.68 and a beta of 0.89. Credicorp Ltd. has a 12 month low of $230.45 and a 12 month high of $413.24. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38.

Analyst Ratings Changes

Several brokerages have weighed in on BAP. The Goldman Sachs Group raised their price objective on Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. upgraded shares of Credicorp from a "neutral" rating to an "overweight" rating and increased their target price for the company from $453.00 to $482.00 in a report on Wednesday, September 16th. UBS Group raised their price target on shares of Credicorp from $412.00 to $473.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of Credicorp from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $431.80.

Credicorp Company Profile

Credicorp Ltd. NYSE: BAP is a Peru-based financial services holding company whose businesses provide banking, insurance, investment management and pension services. Its principal subsidiary is Banco de Crédito del Perú (BCP), one of Peru's largest banks, which serves individual, business and corporate customers through deposits, lending, payments, treasury and other financial products.

Credicorp also operates Mibanco, a financial institution focused on microfinance and small businesses, and Pacífico Seguros, which offers life, health, property and casualty insurance.

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