Barings LLC Decreases Stake in Credicorp Ltd. $BAP

Barings LLC lowered its position in Credicorp Ltd. (NYSE:BAP) by 7.9% in the 4th quarter, HoldingsChannel reports. The fund owned 28,289 shares of the bank’s stock after selling 2,423 shares during the period. Barings LLC’s holdings in Credicorp were worth $8,119,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Capital World Investors increased its holdings in Credicorp by 34.7% in the 4th 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 during the last quarter. Invesco Ltd. grew its stake in Credicorp by 27.4% in the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock valued at $359,320,000 after buying an additional 290,585 shares in the last quarter. State Street Corp grew its stake in Credicorp by 5.8% in the 3rd quarter. State Street Corp now owns 1,267,553 shares of the bank’s stock valued at $337,524,000 after buying an additional 70,017 shares in the last quarter. Pzena Investment Management LLC grew its stake in Credicorp by 1.5% in the 4th quarter. Pzena Investment Management LLC now owns 1,068,942 shares of the bank’s stock valued at $306,786,000 after buying an additional 15,886 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in Credicorp by 1.5% in the 3rd quarter. Bank of Nova Scotia now owns 1,030,687 shares of the bank’s stock valued at $274,451,000 after buying an additional 15,278 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Credicorp Trading Up 4.8%

Credicorp stock opened at $368.59 on Friday. The stock has a market cap of $34.79 billion, a P/E ratio of 14.21, a PEG ratio of 0.76 and a beta of 0.89. Credicorp Ltd. has a fifty-two week low of $213.75 and a fifty-two week high of $380.20. The firm’s fifty day moving average price is $334.04 and its 200-day moving average price is $322.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. The firm 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%. Equities research analysts forecast that Credicorp Ltd. will post 29.61 earnings per share for the current fiscal year.

Insider Transactions at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction dated Thursday, May 21st. The stock was 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 owned 1,745 shares in the company, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their position. The SEC filing for this sale provides additional information. Company 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.