Credicorp Ltd. $BAP Shares Sold by INCA Investments LLC

INCA Investments LLC decreased its holdings in Credicorp Ltd. (NYSE:BAP) by 9.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,170 shares of the bank’s stock after selling 22,063 shares during the quarter. Credicorp comprises about 24.8% of INCA Investments LLC’s portfolio, making the stock its biggest position. INCA Investments LLC owned approximately 0.22% of Credicorp worth $69,929,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital World Investors raised its position in Credicorp by 34.7% during the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock worth $630,081,000 after buying an additional 565,490 shares during the last quarter. Norges Bank purchased a new stake in Credicorp in the 4th quarter worth $150,814,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Credicorp during the fourth quarter worth about $89,754,000. Invesco Ltd. increased its stake in Credicorp by 27.4% during the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock worth $359,320,000 after buying an additional 290,585 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in 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 last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’s stock in a transaction on 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s 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 sale, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. This trade represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 15.90% of the company’s stock.

Credicorp Stock Performance

Shares of Credicorp stock opened at $393.45 on Friday. The firm’s fifty day simple moving average is $351.75 and its 200-day simple moving average is $338.32. Credicorp Ltd. has a 12 month low of $216.87 and a 12 month high of $399.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $37.13 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.83 and a beta of 0.88.

Analyst Upgrades and Downgrades

BAP has been the subject of a number of recent research reports. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Morgan Stanley upgraded shares of 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 report on Wednesday, June 17th. Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. JPMorgan Chase & Co. downgraded shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price on the stock. in a research note on Monday, June 15th. Finally, UBS Group upped their price target on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Five equities research 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.com, Credicorp has an average rating of “Moderate Buy” and a consensus price target of $377.00.

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.