SG Americas Securities LLC Raises Stock Holdings in Credicorp Ltd. $BAP

SG Americas Securities LLC increased its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 9.2% in the first quarter, Holdings Channel.com reports. The fund owned 35,015 shares of the bank’s stock after buying an additional 2,962 shares during the quarter. SG Americas Securities LLC’s holdings in Credicorp were worth $11,876,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BAP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Credicorp in the first quarter worth $78,000. Cetera Investment Advisers boosted its stake in shares of Credicorp by 36.3% during the second quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock valued at $399,000 after purchasing an additional 476 shares during the period. State Street Corp grew its holdings in shares of Credicorp by 1.6% in the second quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after purchasing an additional 19,361 shares during the last quarter. Nebula Research & Development LLC purchased a new position in Credicorp in the 2nd quarter worth about $355,000. Finally, Quantinno Capital Management LP lifted its holdings in Credicorp by 24.7% during the 2nd quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock valued at $1,222,000 after buying an additional 1,083 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Activity at Credicorp

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the business’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 transaction, the chief financial officer owned 1,745 shares of the company’s stock, valued at $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’s 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 represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 15.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BAP shares. UBS Group boosted their price objective on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company 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. HSBC raised Credicorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Finally, JPMorgan Chase & Co. lowered Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a research report on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $377.00.

Credicorp Stock Up 1.0%

Shares of Credicorp stock opened at $384.22 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $36.26 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.83 and a beta of 0.89. The firm’s 50-day moving average is $341.08 and its two-hundred day moving average is $330.98. Credicorp Ltd. has a 1 year low of $216.87 and a 1 year high of $398.52.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. The firm had revenue of $1.81 billion during the quarter. As a group, research analysts expect that Credicorp Ltd. will post 29.52 earnings per share for the current fiscal 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.