Freemont Management S.A. Makes New $3.07 Million Investment in Credicorp Ltd. $BAP

Freemont Management S.A. purchased a new stake in Credicorp Ltd. (NYSE:BAP) in the first quarter, HoldingsChannel reports. The institutional investor purchased 9,064 shares of the bank’s stock, valued at approximately $3,074,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BAP. TD Asset Management Inc raised its holdings in shares of Credicorp by 1.6% in the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock valued at $532,000 after purchasing an additional 29 shares during the period. Cigna Investments Inc. New grew its holdings in Credicorp by 2.8% during the fourth quarter. Cigna Investments Inc. New now owns 1,172 shares of the bank’s stock worth $336,000 after purchasing an additional 32 shares during the period. CIBC Private Wealth Group LLC increased its position in Credicorp by 21.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after buying an additional 32 shares during the last quarter. Perpetual Ltd increased its position in Credicorp by 0.5% during the fourth quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock worth $1,842,000 after buying an additional 34 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Credicorp by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock valued at $2,916,000 after buying an additional 42 shares during the period. Institutional investors own 89.81% of the company’s stock.

Credicorp Trading Up 1.1%

Shares of BAP stock opened at $391.64 on Friday. Credicorp Ltd. has a 12-month low of $224.94 and a 12-month high of $403.30. The company has a market capitalization of $36.96 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88. The firm has a 50 day moving average price of $360.14 and a two-hundred day moving average price of $342.34. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Insider Buying and Selling

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp 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 sale, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the business’s 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 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 ownership of the stock. The SEC filing for this sale provides additional information. 15.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BAP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a research report on Monday, June 15th. UBS Group increased their price target 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 raised their price target for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group upped their price objective on shares of Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a report on Thursday. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Credicorp has a consensus rating of “Moderate Buy” and an average price target of $384.33.

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.