Aristotle Capital Management LLC Has $253.49 Million Stock Position in Credicorp Ltd. $BAP

Aristotle Capital Management LLC reduced its position in Credicorp Ltd. (NYSE:BAP) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 747,328 shares of the bank’s stock after selling 12,065 shares during the period. Aristotle Capital Management LLC’s holdings in Credicorp were worth $253,494,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital World Investors increased its position in shares of Credicorp by 34.7% during the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after purchasing an additional 565,490 shares during the last quarter. Norges Bank purchased a new stake in Credicorp in the fourth quarter worth approximately $150,814,000. PFA Pension Forsikringsaktieselskab purchased a new position in Credicorp in the 4th quarter worth approximately $89,754,000. Invesco Ltd. lifted its stake in Credicorp by 27.4% in the third 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 during the period. Finally, Principal Financial Group Inc. lifted its stake 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 valued at $166,239,000 after purchasing an additional 288,056 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Trading Up 0.3%

Shares of BAP opened at $388.77 on Friday. The firm has a market cap of $36.69 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 0.84 and a beta of 0.88. 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 $230.25 and a 1 year high of $403.30. The company has a 50 day simple moving average of $366.95 and a two-hundred day simple moving average of $345.92.

Analysts Set New Price Targets

Several research firms have commented on BAP. HSBC raised 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 report on Tuesday, May 19th. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. The Goldman Sachs Group lifted their price objective on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target for the company. in a research note on Monday, June 15th. Finally, Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $384.33.

Insiders Place Their Bets

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’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 completion of the transaction, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp 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 sale, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. This 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.

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.