IFM Investors Pty Ltd Acquires New Holdings in Credicorp Ltd. $BAP

IFM Investors Pty Ltd bought a new position in shares of Credicorp Ltd. (NYSE:BAP) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,439 shares of the bank’s stock, valued at approximately $2,523,000.

Several other hedge funds have also recently bought and sold shares of the stock. Capital World Investors lifted its stake in Credicorp by 34.7% in the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after buying an additional 565,490 shares in the last quarter. Invesco Ltd. increased its position in shares of Credicorp by 2.3% during the fourth quarter. Invesco Ltd. now owns 1,380,791 shares of the bank’s stock worth $396,287,000 after acquiring an additional 31,383 shares in the last quarter. State Street Corp increased its position in shares of Credicorp by 5.5% during the fourth 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 in the last quarter. Schroder Investment Management Group raised its holdings in shares of Credicorp by 2.2% during the fourth 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 period. Finally, Pzena Investment Management LLC raised its holdings in shares of Credicorp by 1.5% during the fourth 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 period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction dated 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 directly owned 7,307 shares in the company, valued at $2,330,933. This represents a 32.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction dated Thursday, May 21st. The stock was 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 approximately $588,937.50. This represents a 38.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is currently owned by insiders.

Credicorp Price Performance

NYSE BAP opened at $390.98 on Friday. The firm’s 50 day moving average is $346.45 and its 200-day moving average is $334.89. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $36.90 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88. Credicorp Ltd. has a 12-month low of $216.87 and a 12-month high of $399.38.

Analysts Set New Price Targets

Several research firms recently commented on BAP. Weiss Ratings cut shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a report on Monday, June 15th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company 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 boosted their price target for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Finally, UBS Group upped 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. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Credicorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.00.

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.