Pzena Investment Management LLC Reduces Stock Position in Credicorp Ltd. $BAP

Pzena Investment Management LLC lessened its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 14.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 912,060 shares of the bank’s stock after selling 156,882 shares during the period. Pzena Investment Management LLC owned about 0.97% of Credicorp worth $309,353,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BAP. Sovran Advisors LLC purchased a new stake in Credicorp in the fourth quarter worth about $1,358,000. Causeway Capital Management LLC lifted its holdings in shares of Credicorp by 11.9% during the third quarter. Causeway Capital Management LLC now owns 215,628 shares of the bank’s stock valued at $57,417,000 after purchasing an additional 22,870 shares during the last quarter. Marshall Financial Group LLC purchased a new position in shares of Credicorp during the fourth quarter valued at approximately $912,000. Capital World Investors bought a new stake in shares of Credicorp in the 3rd quarter worth approximately $434,014,000. Finally, Ninety One North America Inc. boosted 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 purchasing an additional 14,994 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BAP shares. UBS Group lifted their target price on shares of Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target for the company. in a research note on Monday, June 15th. Finally, Morgan Stanley upgraded 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. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.00.

Insider Buying and Selling at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value 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 approximately $588,937.50. This trade represents a 38.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 15.90% of the company’s stock.

Credicorp Stock Performance

BAP opened at $387.64 on Thursday. The firm has a market cap of $36.59 billion, a P/E ratio of 14.94, a PEG ratio of 0.85 and a beta of 0.88. Credicorp Ltd. has a 1-year low of $216.87 and a 1-year high of $399.38. The company has a 50 day simple moving average of $344.16 and a two-hundred day simple moving average of $333.73. 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 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.