Credicorp Ltd. $BAP Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 61.7% in the first quarter, HoldingsChannel.com reports. The firm owned 317,244 shares of the bank’s stock after selling 511,961 shares during the quarter. Bank of Nova Scotia’s holdings in Credicorp were worth $107,603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors increased its position in shares of Credicorp by 34.7% during the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after acquiring an additional 565,490 shares during the last quarter. Invesco Ltd. raised its stake in shares of Credicorp by 2.3% in the 4th quarter. Invesco Ltd. now owns 1,380,791 shares of the bank’s stock valued at $396,287,000 after acquiring an additional 31,383 shares during the period. State Street Corp lifted its holdings in shares of Credicorp by 5.5% in the 4th quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock worth $383,685,000 after acquiring an additional 69,329 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Credicorp by 2.2% in the 4th quarter. Schroder Investment Management Group now owns 1,107,420 shares of the bank’s stock worth $317,830,000 after acquiring an additional 23,777 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of Credicorp by 1.5% in the 4th quarter. Pzena Investment Management LLC now owns 1,068,942 shares of the bank’s stock worth $306,786,000 after acquiring an additional 15,886 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAP has been the subject of several research reports. UBS Group lifted their target price on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target on the stock. in a research note on Monday, June 15th. The Goldman Sachs Group raised their price target on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Finally, Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $384.33.

Credicorp Stock Down 1.3%

Shares of NYSE:BAP opened at $388.51 on Friday. The firm’s 50 day moving average price is $365.49 and its 200 day moving average price is $345.61. The stock has a market cap of $36.67 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.86 and a beta of 0.88. Credicorp Ltd. has a fifty-two week low of $230.25 and a fifty-two week high of $403.30. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Insider Buying and Selling

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp 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 completion of the sale, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at approximately $588,937.50. The trade was a 38.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp 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 sale, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.90% of the company’s stock.

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.