Assetmark Inc. Grows Position in Credicorp Ltd. $BAP

Assetmark Inc. grew its holdings in Credicorp Ltd. (NYSE:BAP) by 17.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,602 shares of the bank’s stock after buying an additional 3,782 shares during the period. Assetmark Inc.’s holdings in Credicorp were worth $8,684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. TD Asset Management Inc grew its stake in Credicorp by 1.6% during the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock valued at $532,000 after acquiring an additional 29 shares in the last quarter. Cigna Investments Inc. New raised its holdings in Credicorp by 2.8% in the 4th quarter. Cigna Investments Inc. New now owns 1,172 shares of the bank’s stock valued at $336,000 after acquiring an additional 32 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Credicorp by 21.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after purchasing an additional 32 shares in the last quarter. Perpetual Ltd lifted its stake in Credicorp by 0.5% in the 4th quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock worth $1,842,000 after purchasing an additional 34 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Credicorp by 0.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock worth $2,916,000 after purchasing an additional 42 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Credicorp 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 directly 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 legal filing with the SEC, which is available through this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the business’s 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 sale, the chief executive officer owned 7,307 shares in the company, valued at $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BAP. Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. UBS Group lifted 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. The Goldman Sachs Group boosted their price objective on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Morgan Stanley upgraded 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 report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a research note on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $384.33.

Credicorp Trading Down 1.1%

BAP opened at $386.29 on Tuesday. Credicorp Ltd. has a 52 week low of $225.49 and a 52 week high of $403.30. The business has a fifty day simple moving average of $361.42 and a 200-day simple moving average of $343.39. The firm has a market cap of $36.46 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.85 and a beta of 0.88. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

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.