Wellington Management Group LLP Sells 17,724 Shares of Credicorp Ltd. $BAP

Wellington Management Group LLP decreased its stake in shares of Credicorp Ltd. (NYSE:BAP) by 9.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 176,848 shares of the bank’s stock after selling 17,724 shares during the quarter. Wellington Management Group LLP’s holdings in Credicorp were worth $68,896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. bought a new stake in Credicorp in the 2nd quarter worth approximately $25,000. Quantbot Technologies LP purchased a new position in shares of Credicorp in the second quarter valued at $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Credicorp in the second quarter valued at $27,000. Brown Brothers Harriman & Co. bought a new stake in Credicorp in the third quarter worth $35,000. Finally, Raymond James Financial Inc. purchased a new stake in Credicorp during the second quarter valued at $38,000. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on BAP shares. Weiss Ratings cut shares of Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, August 20th. The Goldman Sachs Group raised their price objective on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and increased their price target for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. Finally, UBS Group increased their target price on shares of Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Four equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $418.40.

Insider Transactions at Credicorp

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the transaction, the chief executive officer owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.90% of the stock is currently owned by insiders.

Credicorp Trading Up 1.7%

BAP stock opened at $378.93 on Thursday. Credicorp Ltd. has a 12 month low of $230.45 and a 12 month high of $413.24. The firm’s 50-day moving average is $385.28 and its 200 day moving average is $355.18. The company has a market capitalization of $35.76 billion, a PE ratio of 14.04, a P/E/G ratio of 0.73 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Friday, August 14th. The bank reported $7.33 EPS for the quarter, topping the consensus estimate of $7.31 by $0.02. Credicorp had a return on equity of 20.52% and a net margin of 25.04%.The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.82 billion. On average, research analysts anticipate that Credicorp Ltd. will post 29.41 EPS for the current year.

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.