Credicorp Ltd. $BAP Position Lowered by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in Credicorp Ltd. (NYSE:BAP) by 2.9% in the first quarter, Holdings Channel reports. The firm owned 127,228 shares of the bank’s stock after selling 3,770 shares during the quarter. California Public Employees Retirement System’s holdings in Credicorp were worth $43,153,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BAP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Credicorp during the 1st quarter worth approximately $78,000. Cetera Investment Advisers increased its holdings 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 last quarter. State Street Corp increased its holdings 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 last quarter. Nebula Research & Development LLC acquired a new stake in shares of Credicorp during the 2nd quarter valued at approximately $355,000. Finally, Quantinno Capital Management LP raised its position 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 valued at $1,222,000 after acquiring an additional 1,083 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Trading Down 1.1%

Shares of NYSE BAP opened at $386.29 on Tuesday. Credicorp Ltd. has a 12-month low of $225.49 and a 12-month high of $403.30. The company has a market cap of $36.46 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $361.42 and its 200 day simple moving average is $343.39.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BAP shares. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. UBS Group boosted their target price on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. HSBC raised shares of 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 report on Tuesday, May 19th. JPMorgan Chase & Co. downgraded shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target on the stock. in a research report on Monday, June 15th. Finally, Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Credicorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $384.33.

Insider Buying and Selling at Credicorp

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the sale, the chief financial officer directly owned 1,745 shares in the company, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is owned by company insiders.

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.