Pictet Asset Management Holding SA Sells 14,121 Shares of Credicorp Ltd. $BAP

Pictet Asset Management Holding SA lessened its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,184 shares of the bank’s stock after selling 14,121 shares during the quarter. Pictet Asset Management Holding SA owned 0.14% of Credicorp worth $44,834,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc grew its stake in Credicorp by 1.6% in the fourth quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock valued at $532,000 after acquiring an additional 29 shares during the period. Cigna Investments Inc. New raised its position in shares of 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 lifted its holdings in shares of Credicorp by 21.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock valued at $52,000 after purchasing an additional 32 shares in the last quarter. Perpetual Ltd lifted its holdings in shares of Credicorp by 0.5% during the 4th quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock valued at $1,842,000 after purchasing an additional 34 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Credicorp by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock valued at $2,916,000 after purchasing an additional 42 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction on Thursday, May 21st. The shares were 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 owned 1,745 shares in the company, valued at $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. HSBC raised Credicorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. UBS Group raised their price objective on shares of Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings cut shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. cut shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective on the stock. in a research report on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.00.

Credicorp Trading Up 1.2%

NYSE BAP opened at $389.37 on Wednesday. Credicorp Ltd. has a 52 week low of $216.87 and a 52 week high of $398.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50 day moving average price is $343.13 and its two-hundred day moving average price is $332.98. The stock has a market capitalization of $36.75 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.84 and a beta of 0.89.

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.