Goldman Sachs Group Inc. Reduces Position in Credicorp Ltd. $BAP

Goldman Sachs Group Inc. lessened its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 9.3% during the 4th quarter, HoldingsChannel reports. The fund owned 719,388 shares of the bank’s stock after selling 73,393 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Credicorp were worth $206,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Credicorp during the 3rd quarter worth $35,000. Raymond James Financial Inc. purchased a new position in shares of Credicorp during the 2nd quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credicorp during the 4th quarter worth $46,000. Quarry LP purchased a new position in shares of Credicorp during the 3rd quarter worth $46,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Credicorp by 44.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 188 shares of the bank’s stock worth $54,000 after acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Transactions at Credicorp

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total value of $362,137.50. Following the sale, the chief financial officer directly owned 1,745 shares in the company, valued at approximately $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 accessible through this link. Corporate insiders own 15.90% of the company’s stock.

Credicorp Stock Performance

Shares of NYSE BAP opened at $322.17 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $30.41 billion, a P/E ratio of 12.42, a P/E/G ratio of 0.70 and a beta of 0.89. The firm’s fifty day moving average is $332.43 and its two-hundred day moving average is $319.27. Credicorp Ltd. has a 52-week low of $212.31 and a 52-week high of $380.20.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. The company had revenue of $1.81 billion for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. As a group, analysts anticipate that Credicorp Ltd. will post 29.61 EPS for the current fiscal year.

Analysts Set New Price Targets

BAP has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Credicorp from $412.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Weiss Ratings cut shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Finally, UBS Group lifted their price target on shares of Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $356.40.

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.