USS Investment Management Ltd Grows Position in Credicorp Ltd. $BAP

USS Investment Management Ltd boosted its position in shares of Credicorp Ltd. (NYSE:BAP) by 41.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,358 shares of the bank’s stock after buying an additional 46,014 shares during the period. USS Investment Management Ltd owned 0.17% of Credicorp worth $52,975,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors purchased a new position in shares of Credicorp during the third quarter worth approximately $434,014,000. Norges Bank purchased a new stake in Credicorp in the 4th quarter valued at $150,814,000. PFA Pension Forsikringsaktieselskab purchased a new stake in Credicorp in the 4th quarter valued at $89,754,000. Invesco Ltd. boosted 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 purchasing an additional 290,585 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Credicorp by 98.9% during the 4th quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock worth $166,239,000 after purchasing an additional 288,056 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Transactions at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was 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 of the company’s stock, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were 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 directly owned 1,745 shares of the company’s stock, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.90% of the stock is owned by company insiders.

Credicorp Stock Up 1.2%

BAP stock opened at $389.37 on Wednesday. Credicorp Ltd. has a one year low of $216.87 and a one year high of $398.52. The stock has a market capitalization of $36.75 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The company has a fifty day moving average of $343.13 and a 200-day moving average of $332.98.

Analyst Upgrades and Downgrades

BAP has been the topic of a number of recent research reports. UBS Group lifted their price objective on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. 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. Finally, HSBC raised Credicorp from a “hold” rating to a “buy” rating and upped their price objective for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Credicorp currently has an average rating of “Moderate Buy” and an average target price 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.