Letko Brosseau & Associates Inc. Grows Position in Credicorp Ltd. $BAP

Letko Brosseau & Associates Inc. boosted its stake in shares of Credicorp Ltd. (NYSE:BAP) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 101,221 shares of the bank’s stock after purchasing an additional 3,950 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Credicorp were worth $29,050,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. TD Asset Management Inc grew its position in Credicorp by 1.6% during the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock worth $532,000 after purchasing an additional 29 shares during the last quarter. Cigna Investments Inc. New grew its position in Credicorp by 2.8% during the 4th 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 last quarter. Perpetual Ltd grew its position in Credicorp by 0.5% during the 4th quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock worth $1,842,000 after purchasing an additional 34 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Credicorp by 0.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock worth $2,916,000 after purchasing an additional 42 shares during the last quarter. Finally, Fiduciary Trust Co grew its position in Credicorp by 1.8% during the 3rd quarter. Fiduciary Trust Co now owns 2,849 shares of the bank’s stock worth $759,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at $588,937.50. The trade was a 38.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction that occurred on 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BAP has been the topic of a number of recent research reports. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. UBS Group upped 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. The Goldman Sachs Group upped their target price on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. upped their target price on Credicorp from $412.00 to $415.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $356.40.

Credicorp Price Performance

NYSE:BAP opened at $349.71 on Wednesday. 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 firm has a market cap of $33.01 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.69 and a beta of 0.89. The company has a 50 day moving average price of $332.79 and a 200-day moving average price of $320.89. Credicorp Ltd. has a 1-year low of $212.31 and a 1-year high of $380.20.

Credicorp (NYSE:BAP) last posted its earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. The firm had revenue of $1.81 billion during the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. Equities research analysts forecast that Credicorp Ltd. will post 29.61 EPS for the current year.

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.