UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,112,346 Shares of Credicorp Ltd. $BAP

Key Points

• UBS Asset Management cut its Credicorp stake by 99.9% in the second quarter, selling 1,112,346 shares and retaining just 760 shares valued at approximately $296,000.
• Institutional investors own 89.81% of Credicorp, while several funds—including Pin Oak Investment Advisors, Quantbot Technologies and Raymond James—initiated positions during the period.
• Credicorp shares opened at $377.80, below the consensus analyst price target of $418.40. The stock carries a “Moderate Buy” consensus rating, with Morgan Stanley and UBS setting targets of $480 and $473, respectively.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 99.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 760 shares of the bank's stock after selling 1,112,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Credicorp were worth $296,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BAP. Pin Oak Investment Advisors Inc. bought a new stake in shares of Credicorp in the 2nd quarter worth approximately $25,000. Quantbot Technologies LP bought a new stake in shares of Credicorp in the second quarter valued at $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Credicorp during the 2nd quarter valued at $27,000. Brown Brothers Harriman & Co. purchased a new position in shares of Credicorp during the 3rd quarter valued at $35,000. Finally, Raymond James Financial Inc. bought a new position in shares of Credicorp during the 2nd quarter worth $38,000. Institutional investors own 89.81% of the company's stock.

Credicorp Price Performance

BAP stock opened at $377.80 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24. The stock has a market cap of $35.66 billion, a PE ratio of 14.00, a P/E/G ratio of 0.74 and a beta of 0.88. The firm has a 50 day simple moving average of $384.31 and a two-hundred day simple moving average of $357.15.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BAP shares. Morgan Stanley raised shares of Credicorp from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. UBS Group increased their price target on shares of Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. JPMorgan Chase & Co. lowered 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. HSBC raised shares of Credicorp from a "hold" rating to a "buy" rating and upped their target price for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group increased their target price on shares of Credicorp from $329.00 to $374.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Credicorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $418.40.

Credicorp Profile

Credicorp Ltd. NYSE: BAP is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, pension, investment banking and wealth management services to individuals, businesses and institutions.

Its principal banking subsidiary is Banco de Crédito del Perú (BCP), one of Peru's major banks, which offers deposits, loans, payment services, credit cards and other financial products. Credicorp also operates Mibanco, a bank focused on microfinance and small businesses, and Grupo Pacífico, which provides property and casualty, life and health insurance products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.