SG Americas Securities LLC Grows Stock Position in Credicorp Ltd. $BAP

SG Americas Securities LLC lifted its holdings in Credicorp Ltd. (NYSE:BAP) by 9.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,015 shares of the bank’s stock after purchasing an additional 2,962 shares during the period. SG Americas Securities LLC’s holdings in Credicorp were worth $11,876,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in Credicorp during the third quarter valued at approximately $35,000. Raymond James Financial Inc. bought a new position in Credicorp in the second quarter worth approximately $38,000. Kestra Advisory Services LLC bought a new position in Credicorp in the fourth quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credicorp during the 4th quarter worth $46,000. Finally, Quarry LP bought a new stake in shares of Credicorp during the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Price Performance

BAP stock opened at $384.22 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The company’s fifty day moving average price is $341.08 and its 200-day moving average price is $330.98. Credicorp Ltd. has a one year low of $216.87 and a one year high of $398.52. The company has a market capitalization of $36.26 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 0.83 and a beta of 0.89.

Credicorp (NYSE:BAP) last posted its earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. The company had revenue of $1.81 billion during the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. On average, equities analysts anticipate that Credicorp Ltd. will post 29.52 EPS for the current fiscal year.

Insider Activity

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’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 completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This trade represents a 38.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BAP shares. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and lifted their target price for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. 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. UBS Group upped their price target on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Credicorp has a consensus rating of “Moderate Buy” and an average target price of $377.00.

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.