Candriam S.C.A. Sells 39,800 Shares of Credicorp Ltd. $BAP

Candriam S.C.A. trimmed its position in Credicorp Ltd. (NYSE:BAP) by 26.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 111,400 shares of the bank’s stock after selling 39,800 shares during the period. Candriam S.C.A.’s holdings in Credicorp were worth $37,785,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BAP. Brown Brothers Harriman & Co. bought a new stake in shares of Credicorp during the 3rd quarter valued at $35,000. Raymond James Financial Inc. purchased a new position in Credicorp during the 2nd quarter valued at about $38,000. Kestra Advisory Services LLC bought a new stake in Credicorp during the fourth quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Credicorp during the fourth quarter worth about $46,000. Finally, Quarry LP purchased a new stake in Credicorp in the third quarter worth about $46,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Price Performance

Shares of BAP opened at $401.11 on Friday. The company has a market capitalization of $37.86 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $353.41 and a 200 day moving average of $338.76. Credicorp Ltd. has a twelve month low of $216.87 and a twelve month high of $402.19.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BAP. UBS Group raised their target price 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. Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. HSBC upgraded 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. JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price on the stock. in a report on Monday, June 15th. Finally, Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.00.

Insider Buying and Selling at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the transaction, the chief executive officer 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s 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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.