Royal Bank of Canada Has $584.04 Million Holdings in Credicorp Ltd. $BAP

Royal Bank of Canada lifted its position in Credicorp Ltd. (NYSE:BAP) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,721,926 shares of the bank’s stock after buying an additional 13,249 shares during the quarter. Royal Bank of Canada owned about 1.82% of Credicorp worth $584,042,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its stake in Credicorp by 15.0% in the first quarter. Quantinno Capital Management LP now owns 10,341 shares of the bank’s stock valued at $3,508,000 after acquiring an additional 1,348 shares during the last quarter. ABS Direct Equity Fund LLC acquired a new position in shares of Credicorp during the 1st quarter worth about $1,526,000. Compound Planning Inc. increased its stake in shares of Credicorp by 7.2% during the 1st quarter. Compound Planning Inc. now owns 1,899 shares of the bank’s stock worth $644,000 after purchasing an additional 127 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Credicorp by 15.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 842,780 shares of the bank’s stock worth $285,854,000 after purchasing an additional 112,418 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Credicorp by 9.9% in the 1st quarter. Sei Investments Co. now owns 311,487 shares of the bank’s stock valued at $105,651,000 after purchasing an additional 28,157 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Trading Down 0.4%

BAP stock opened at $389.39 on Wednesday. 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’s 50-day simple moving average is $370.17 and its 200 day simple moving average is $347.63. Credicorp Ltd. has a 52 week low of $230.45 and a 52 week high of $403.30. The company has a market capitalization of $36.75 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BAP. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. The Goldman Sachs Group raised their price target on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. UBS Group lifted their price objective 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. Finally, HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and upped their price objective for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $384.33.

Insider Buying and Selling

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’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 sale, the chief executive officer owned 7,307 shares of the company’s stock, 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. Corporate 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.