Principal Financial Group Inc. Reduces Stake in Credicorp Ltd. $BAP

Principal Financial Group Inc. decreased its stake in shares of Credicorp Ltd. (NYSE:BAP) by 0.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 577,929 shares of the bank’s stock after selling 1,302 shares during the period. Principal Financial Group Inc.’s holdings in Credicorp were worth $196,022,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Matthews International Capital Management LLC bought a new stake in shares of Credicorp during the first quarter valued at about $4,355,000. LGT Fund Management Co Ltd. bought a new position in shares of Credicorp in the first quarter valued at approximately $1,825,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Credicorp by 2,670.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,336 shares of the bank’s stock valued at $10,968,000 after acquiring an additional 31,169 shares in the last quarter. Sovran Advisors LLC grew its stake in Credicorp by 14.6% during the first quarter. Sovran Advisors LLC now owns 4,880 shares of the bank’s stock valued at $1,582,000 after acquiring an additional 621 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Credicorp by 905.9% during the first quarter. Hsbc Holdings PLC now owns 175,121 shares of the bank’s stock valued at $59,315,000 after acquiring an additional 157,711 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

BAP has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and upped their price target for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. UBS Group increased their price objective on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. lowered 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. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $377.00.

Credicorp Stock Up 0.7%

BAP stock opened at $391.84 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $356.17 and its 200 day moving average is $340.54. The stock has a market cap of $36.98 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88. Credicorp Ltd. has a 1-year low of $216.87 and a 1-year high of $403.30.

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 value of $362,137.50. Following the completion of the transaction, the chief financial officer owned 1,745 shares of the company’s stock, valued at $588,937.50. The trade was a 38.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction on 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 transaction, 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 disclosure for this sale is available in the SEC filing. 15.90% of the stock is owned by insiders.

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.