Pzena Investment Management LLC Lowers Position in Credicorp Ltd. $BAP

Pzena Investment Management LLC decreased its stake in shares of Credicorp Ltd. (NYSE:BAP) by 14.7% in the first quarter, Holdings Channel.com reports. The fund owned 912,060 shares of the bank’s stock after selling 156,882 shares during the period. Pzena Investment Management LLC’s holdings in Credicorp were worth $309,353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital World Investors purchased a new stake in Credicorp in the 3rd quarter worth $434,014,000. Norges Bank bought a new stake in shares of Credicorp in the fourth quarter worth about $150,814,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Credicorp in the fourth quarter worth about $89,754,000. Invesco Ltd. lifted its position in shares of Credicorp by 27.4% in the third quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock worth $359,320,000 after buying an additional 290,585 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Credicorp by 98.9% in the fourth quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock worth $166,239,000 after buying an additional 288,056 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BAP. Morgan Stanley upgraded 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. UBS Group increased 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. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and raised their target price for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. JPMorgan Chase & Co. cut shares of 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, Weiss Ratings downgraded shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Five 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.00.

Insiders Place Their Bets

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the sale, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. This trade represents a 38.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. 15.90% of the stock is owned by insiders.

Credicorp Stock Down 0.5%

Shares of NYSE:BAP opened at $387.64 on Thursday. The firm has a market capitalization of $36.59 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88. The business has a 50 day simple moving average of $344.16 and a two-hundred day simple moving average of $333.73. Credicorp Ltd. has a 1 year low of $216.87 and a 1 year high of $399.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02.

About Credicorp

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.