Arrowstreet Capital Limited Partnership Raises Stock Position in Credicorp Ltd. $BAP

Arrowstreet Capital Limited Partnership increased its position in shares of Credicorp Ltd. (NYSE:BAP) by 15.4% during the first quarter, HoldingsChannel.com reports. The fund owned 842,780 shares of the bank’s stock after acquiring an additional 112,418 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Credicorp were worth $285,854,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Sovran Advisors LLC purchased a new stake in Credicorp during the fourth quarter valued at about $1,358,000. Assetmark Inc. lifted its stake in Credicorp by 8.4% in the fourth quarter. Assetmark Inc. now owns 21,820 shares of the bank’s stock worth $6,262,000 after acquiring an additional 1,688 shares during the period. Ninety One North America Inc. raised its position in shares of Credicorp by 9.9% in the 4th quarter. Ninety One North America Inc. now owns 166,814 shares of the bank’s stock worth $47,876,000 after acquiring an additional 14,994 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Credicorp by 7,441.9% in the 4th quarter. SG Americas Securities LLC now owns 32,053 shares of the bank’s stock worth $9,199,000 after acquiring an additional 31,628 shares in the last quarter. Finally, Novem Group purchased a new position in Credicorp during the 4th quarter valued at about $1,189,000. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BAP. 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 report on Monday, June 15th. 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. UBS Group increased their target price on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings downgraded shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Finally, The Goldman Sachs Group upped their price objective on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $384.33.

Insider Activity at Credicorp

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’s 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 sale, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at $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 is available through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $319.00, for a total value 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. The trade was 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 Trading Up 0.3%

NYSE:BAP opened at $388.77 on Friday. Credicorp Ltd. has a one year low of $230.25 and a one year high of $403.30. The business has a fifty day moving average price of $366.95 and a 200-day moving average price of $345.92. The firm has a market capitalization of $36.69 billion, a price-to-earnings 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 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.