Hsbc Holdings PLC Decreases Stock Holdings in Credicorp Ltd. $BAP

Hsbc Holdings PLC reduced its position in Credicorp Ltd. (NYSE:BAP) by 8.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,410 shares of the bank’s stock after selling 1,599 shares during the period. Hsbc Holdings PLC’s holdings in Credicorp were worth $4,988,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BAP. Brown Brothers Harriman & Co. acquired a new stake in shares of Credicorp in the 3rd quarter worth $35,000. Raymond James Financial Inc. acquired a new stake in Credicorp in the second quarter worth about $38,000. Kestra Advisory Services LLC purchased a new stake in shares of Credicorp during the fourth quarter worth about $42,000. Quarry LP purchased a new stake in shares of Credicorp during the third quarter worth about $46,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Credicorp during the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BAP. Weiss Ratings cut shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. UBS Group boosted their price objective on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Finally, JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target for the company. in a research report on Monday, June 15th. Five 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $377.00.

Credicorp Price Performance

Shares of NYSE:BAP opened at $393.45 on Friday. Credicorp Ltd. has a twelve month low of $216.87 and a twelve month high of $399.38. 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 has a market cap of $37.13 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.83 and a beta of 0.88. The company’s 50 day moving average is $351.75 and its 200 day moving average is $338.32.

Insiders Place Their Bets

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were 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 owned 7,307 shares of the company’s stock, valued at $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the business’s stock in a transaction 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 transaction, the chief financial officer owned 1,745 shares of the company’s stock, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is owned by corporate insiders.

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.