IFM Investors Pty Ltd Invests $2.52 Million in Credicorp Ltd. $BAP

IFM Investors Pty Ltd bought a new stake in Credicorp Ltd. (NYSE:BAP) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,439 shares of the bank’s stock, valued at approximately $2,523,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Credicorp during the first quarter worth $78,000. Cetera Investment Advisers grew its position in shares of Credicorp by 36.3% in the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock valued at $399,000 after acquiring an additional 476 shares during the period. State Street Corp grew its position in shares of Credicorp by 1.6% in the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock valued at $267,673,000 after acquiring an additional 19,361 shares during the period. Nebula Research & Development LLC acquired a new position in shares of Credicorp during the 2nd quarter worth about $355,000. Finally, Quantinno Capital Management LP increased its stake in shares of Credicorp by 24.7% during the 2nd quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock worth $1,222,000 after purchasing an additional 1,083 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction dated 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 of the company’s stock, valued at approximately $588,937.50. The trade was a 38.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 15.90% of the company’s stock.

Credicorp Price Performance

NYSE:BAP opened at $390.98 on Friday. The company has a market cap of $36.90 billion, a P/E ratio of 15.07, a P/E/G ratio of 0.85 and a beta of 0.88. The firm’s fifty day moving average price is $346.45 and its two-hundred day moving average price is $334.89. Credicorp Ltd. has a one year low of $216.87 and a one year high of $399.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02.

Analyst Upgrades and Downgrades

BAP has been the topic of a number of research analyst reports. Weiss Ratings cut shares of 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 boosted their price target for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. UBS Group upped their price objective on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a research report on Monday, June 15th. Finally, Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $377.00.

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.