Thornburg Investment Management Inc. Reduces Holdings in Credicorp Ltd. $BAP

Thornburg Investment Management Inc. decreased its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 21.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 40,601 shares of the bank’s stock after selling 11,175 shares during the period. Thornburg Investment Management Inc. owned approximately 0.05% of Credicorp worth $11,652,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Brown Brothers Harriman & Co. purchased a new stake in Credicorp in the third quarter valued at approximately $35,000. Raymond James Financial Inc. purchased a new stake in Credicorp in the second quarter valued at approximately $38,000. Kestra Advisory Services LLC purchased a new stake in Credicorp in the fourth quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credicorp in the fourth quarter valued at approximately $46,000. Finally, Quarry LP purchased a new stake in Credicorp in the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the transaction, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at $588,937.50. This represents a 38.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the transaction, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at approximately $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 Down 0.1%

Credicorp stock opened at $369.16 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a 12 month low of $213.75 and a 12 month high of $380.20. The stock’s 50 day simple moving average is $334.58 and its two-hundred day simple moving average is $323.29. The firm has a market cap of $34.84 billion, a PE ratio of 14.23, a P/E/G ratio of 0.80 and a beta of 0.89.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%.The business had revenue of $1.81 billion for the quarter. Analysts anticipate that Credicorp Ltd. will post 29.61 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on BAP. The Goldman Sachs Group upped their target price on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and upped their target price for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. UBS Group upped their target price on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Finally, Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $356.40.

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.