WCM Investment Management LLC Cuts Stock Holdings in Credicorp Ltd. $BAP

WCM Investment Management LLC reduced its stake in Credicorp Ltd. (NYSE:BAP) by 8.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,968 shares of the bank’s stock after selling 23,031 shares during the quarter. WCM Investment Management LLC’s holdings in Credicorp were worth $84,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Sovran Advisors LLC bought a new position in shares of Credicorp in the 4th quarter worth $1,358,000. Marshall Financial Group LLC bought a new stake in shares of Credicorp during the 4th quarter worth $912,000. Ninety One North America Inc. lifted its holdings in shares of Credicorp by 9.9% during the 4th quarter. Ninety One North America Inc. now owns 166,814 shares of the bank’s stock worth $47,876,000 after acquiring an additional 14,994 shares during the last quarter. Assetmark Inc. grew its position in Credicorp by 8.4% in the fourth quarter. Assetmark Inc. now owns 21,820 shares of the bank’s stock worth $6,262,000 after acquiring an additional 1,688 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Credicorp by 7,441.9% in the fourth quarter. SG Americas Securities LLC now owns 32,053 shares of the bank’s stock worth $9,199,000 after acquiring an additional 31,628 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Credicorp Price Performance

Shares of NYSE:BAP opened at $391.64 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. The stock has a market cap of $36.96 billion, a PE ratio of 15.10, a PEG ratio of 0.85 and a beta of 0.88. The company’s fifty day moving average is $360.14 and its 200 day moving average is $342.70. Credicorp Ltd. has a 52 week low of $224.94 and a 52 week high of $403.30.

Insider Transactions at Credicorp

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction dated Thursday, May 21st. The stock was 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 directly owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. This 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 currently owned by company insiders.

Analyst Ratings Changes

BAP has been the topic of a number of research analyst reports. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. 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 report on Thursday. UBS Group boosted their target price on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $384.33.

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.