ClariVest Asset Management LLC boosted its position in Credicorp Ltd. (NYSE:BAP) by 10.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 85,598 shares of the company’s stock after buying an additional 8,000 shares during the period. ClariVest Asset Management LLC’s holdings in Credicorp were worth $13,210,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Smith Asset Management Group LP bought a new position in Credicorp during the second quarter worth $203,000. SeaBridge Investment Advisors LLC acquired a new stake in shares of Credicorp during the second quarter worth approximately $238,000. Fox Run Management L.L.C. acquired a new stake in shares of Credicorp during the second quarter worth approximately $278,000. Daiwa Securities Group Inc. boosted its stake in shares of Credicorp by 17.6% in the second quarter. Daiwa Securities Group Inc. now owns 2,000 shares of the company’s stock worth $308,000 after buying an additional 300 shares during the period. Finally, BlueMountain Capital Management LLC boosted its stake in shares of Credicorp by 515.5% in the first quarter. BlueMountain Capital Management LLC now owns 2,813 shares of the company’s stock worth $369,000 after buying an additional 2,356 shares during the period. 65.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Credicorp Ltd. (NYSE:BAP) traded down 0.48% during midday trading on Thursday, hitting $146.30. 234,694 shares of the company were exchanged. The company has a 50-day moving average price of $156.18 and a 200-day moving average price of $149.06. Credicorp Ltd. has a 52-week low of $84.72 and a 52-week high of $166.26. The stock’s market capitalization is $11.64 billion.
A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Credicorp from $166.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. Zacks Investment Research cut shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $154.00 target price on shares of Credicorp in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $175.75.
Credicorp Ltd. is a financial services holding company in Peru. The Company has four operating segments based on its products and services, which include banking, insurance, pension funds and investment banking. Its operating subsidiaries include Banco de Credito del Peru; Atlantic Security Bank, which it holds through Atlantic Security Holding Corporation; El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros (Grupo Pacifico); Prima AFP SA, and Credicorp Capital Ltd.
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