Credicorp Ltd. $BAP Shares Purchased by USS Investment Management Ltd

USS Investment Management Ltd increased its stake in shares of Credicorp Ltd. (NYSE:BAP) by 41.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,358 shares of the bank’s stock after buying an additional 46,014 shares during the period. USS Investment Management Ltd’s holdings in Credicorp were worth $52,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BAP. Capital World Investors acquired a new position in Credicorp during the third quarter worth about $434,014,000. Norges Bank acquired a new stake in shares of Credicorp during the 4th quarter valued at approximately $150,814,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Credicorp during the 4th quarter worth approximately $89,754,000. Invesco Ltd. boosted its stake in shares of Credicorp by 27.4% during the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock worth $359,320,000 after acquiring an additional 290,585 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Credicorp by 98.9% in the 4th quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock worth $166,239,000 after acquiring an additional 288,056 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Trading Up 1.2%

Shares of BAP opened at $389.37 on Wednesday. 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 Ltd. has a 1-year low of $216.87 and a 1-year high of $398.52. The stock has a market cap of $36.75 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. The firm has a 50 day simple moving average of $343.13 and a 200-day simple moving average of $332.98.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BAP shares. JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a research note on Monday, June 15th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. 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 research report on Wednesday, June 17th. UBS Group lifted their price target on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $377.00.

Insider Buying and Selling at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value 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 represents a 38.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 7,307 shares in the company, valued at approximately $2,330,933. The trade was a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 15.90% of the company’s stock.

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.