JPMorgan Chase & Co. Sells 67,747 Shares of Credicorp Ltd. $BAP

JPMorgan Chase & Co. decreased its stake in shares of Credicorp Ltd. (NYSE:BAP) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,510,245 shares of the bank’s stock after selling 67,747 shares during the period. JPMorgan Chase & Co. owned about 1.90% of Credicorp worth $433,440,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sovran Advisors LLC bought a new position in Credicorp in the fourth quarter worth approximately $1,358,000. Causeway Capital Management LLC raised its position in Credicorp by 11.9% in the third quarter. Causeway Capital Management LLC now owns 215,628 shares of the bank’s stock worth $57,417,000 after acquiring an additional 22,870 shares during the period. Marshall Financial Group LLC bought a new position in Credicorp in the fourth quarter worth approximately $912,000. Capital World Investors bought a new position in Credicorp in the third quarter worth approximately $434,014,000. Finally, Ninety One North America Inc. raised its position in Credicorp by 9.9% in the fourth quarter. Ninety One North America Inc. now owns 166,814 shares of the bank’s stock worth $47,876,000 after acquiring an additional 14,994 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BAP has been the topic of several recent research reports. UBS Group increased their price target on shares of Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Zacks Research downgraded shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. increased their price target on shares of Credicorp from $412.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and increased their price target for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group increased their price target on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Credicorp has a consensus rating of “Moderate Buy” and an average target price of $356.40.

Insider Buying and Selling at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total transaction of $362,137.50. Following the sale, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This trade represents a 38.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the sale, 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 disclosure for this sale is available in the SEC filing. 15.90% of the stock is owned by company insiders.

Credicorp Stock Up 0.8%

Shares of BAP stock opened at $352.27 on Thursday. The company has a market capitalization of $33.25 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.76 and a beta of 0.89. Credicorp Ltd. has a one year low of $213.75 and a one year high of $380.20. The company’s fifty day moving average price is $333.45 and its 200-day moving average price is $321.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 EPS 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%. Sell-side analysts expect that Credicorp Ltd. will post 29.61 EPS for the current fiscal year.

Credicorp Company Profile

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.