LGT Fund Management Co Ltd. Buys Shares of 5,381 Credicorp Ltd. $BAP

LGT Fund Management Co Ltd. bought a new position in shares of Credicorp Ltd. (NYSE:BAP) during the 1st quarter, Holdings Channel reports. The fund bought 5,381 shares of the bank’s stock, valued at approximately $1,825,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BAP. Capital World Investors increased its holdings in shares of Credicorp by 34.7% in 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 in the last quarter. Invesco Ltd. boosted its holdings in 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 buying an additional 31,383 shares in the last quarter. State Street Corp grew its position in 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 buying an additional 69,329 shares during the period. Schroder Investment Management Group grew its position in 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 buying an additional 23,777 shares during the period. Finally, Pzena Investment Management LLC increased its holdings in Credicorp by 1.5% in the fourth quarter. Pzena Investment Management LLC now owns 1,068,942 shares of the bank’s stock valued at $306,786,000 after buying an additional 15,886 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’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 sale, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The sale 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 stock in a transaction on 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 sale, the chief executive officer directly owned 7,307 shares in the company, valued at approximately $2,330,933. The trade was a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BAP has been the subject of a number of research reports. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and lifted their price target for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. UBS Group raised their price objective on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price on the stock. in a research report on Monday, June 15th. Finally, Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Credicorp presently has an average rating of “Moderate Buy” and a consensus price target of $377.00.

Credicorp Price Performance

Shares of NYSE:BAP opened at $401.11 on Monday. The business’s fifty day moving average price is $353.41 and its two-hundred day moving average price is $339.11. The stock has a market cap of $37.86 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 0.87 and a beta of 0.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. Credicorp Ltd. has a one year low of $216.87 and a one year high of $402.19.

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.