Credicorp Ltd. $BAP Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. reduced its position in Credicorp Ltd. (NYSE:BAP) by 21.6% in the 4th quarter, Holdings Channel reports. The firm owned 40,601 shares of the bank’s stock after selling 11,175 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Credicorp were worth $11,652,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. USS Investment Management Ltd grew its holdings in Credicorp by 15.1% in the 4th quarter. USS Investment Management Ltd now owns 110,344 shares of the bank’s stock valued at $31,684,000 after buying an additional 14,470 shares in the last quarter. Verition Fund Management LLC grew its holdings in Credicorp by 177.7% in the 4th quarter. Verition Fund Management LLC now owns 28,333 shares of the bank’s stock valued at $8,132,000 after buying an additional 18,132 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Credicorp by 15.1% in the 4th quarter. Panagora Asset Management Inc. now owns 65,854 shares of the bank’s stock valued at $18,900,000 after buying an additional 8,633 shares in the last quarter. MML Investors Services LLC grew its holdings in Credicorp by 19.0% in the 4th quarter. MML Investors Services LLC now owns 1,059 shares of the bank’s stock valued at $304,000 after buying an additional 169 shares in the last quarter. Finally, Mariner LLC grew its holdings in Credicorp by 1.1% in the 4th quarter. Mariner LLC now owns 5,710 shares of the bank’s stock valued at $1,640,000 after buying an additional 61 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Stock Performance

NYSE BAP opened at $369.16 on Monday. The stock has a market cap of $34.84 billion, a PE ratio of 14.23, a P/E/G ratio of 0.80 and a beta of 0.89. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a twelve month low of $213.75 and a twelve month high of $380.20. The stock has a fifty day simple moving average of $334.58 and a 200-day simple moving average of $323.29.

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

Insider Activity

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 value of $362,137.50. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through the SEC website. 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 completion of the transaction, 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 position. The SEC filing for this sale provides additional information. Company insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

BAP has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. upped their target price on Credicorp from $412.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Zacks Research cut Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and upped their target price for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Finally, Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $356.40.

Credicorp 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.