Credicorp Ltd. $BAP Holdings Trimmed by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. reduced its position in shares of Credicorp Ltd. (NYSE:BAP) by 13.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,945 shares of the bank’s stock after selling 5,639 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Credicorp were worth $13,614,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Royal London Asset Management Ltd. boosted its position in shares of Credicorp by 0.8% in the second quarter. Royal London Asset Management Ltd. now owns 106,105 shares of the bank’s stock worth $41,336,000 after buying an additional 874 shares during the period. Hsbc Holdings PLC raised its position in Credicorp by 23.8% during the second quarter. Hsbc Holdings PLC now owns 216,855 shares of the bank’s stock valued at $84,497,000 after buying an additional 41,734 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in Credicorp in the 2nd quarter worth about $17,129,000. Pin Oak Investment Advisors Inc. purchased a new stake in Credicorp in the 2nd quarter worth about $25,000. Finally, Empowered Funds LLC acquired a new stake in Credicorp during the 2nd quarter worth about $533,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

BAP has been the topic of several research analyst reports. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. The Goldman Sachs Group increased their price target on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. UBS Group raised their price target on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. JPMorgan Chase & Co. downgraded shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective on the stock. in a research report on Monday, June 15th. Finally, Weiss Ratings lowered shares of Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, August 20th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Credicorp presently has an average rating of “Moderate Buy” and an average price target of $418.40.

Credicorp Price Performance

Shares of NYSE:BAP opened at $369.53 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Credicorp Ltd. has a 1 year low of $230.45 and a 1 year high of $413.24. The business has a fifty day simple moving average of $385.48 and a 200 day simple moving average of $354.60. The firm has a market cap of $34.88 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 0.72 and a beta of 0.90.

Credicorp (NYSE:BAP) last issued its earnings results on Friday, August 14th. The bank reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $0.02. Credicorp had a return on equity of 20.52% and a net margin of 25.04%.The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.82 billion. As a group, sell-side analysts predict that Credicorp Ltd. will post 29.41 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the sale, the chief executive officer directly owned 7,307 shares in the company, valued at $2,330,933. The trade was a 32.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.90% of the stock is currently owned by corporate insiders.

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.