65,156 Shares in Credicorp Ltd. $BAP Bought by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. acquired a new position in Credicorp Ltd. (NYSE:BAP) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 65,156 shares of the bank’s stock, valued at approximately $22,100,000. Credicorp accounts for about 1.0% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 21st largest holding.

A number of other institutional investors have also recently bought and sold shares of the business. TD Asset Management Inc raised its stake in shares of 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 period. Cigna Investments Inc. New grew its position in Credicorp by 2.8% during the fourth quarter. Cigna Investments Inc. New now owns 1,172 shares of the bank’s stock valued at $336,000 after buying an additional 32 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Credicorp by 21.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after buying an additional 32 shares during the last quarter. Perpetual Ltd increased its holdings in Credicorp by 0.5% during the fourth quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock worth $1,842,000 after buying an additional 34 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in Credicorp by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock worth $2,916,000 after acquiring an additional 42 shares during the period. Institutional investors own 89.81% of the company’s stock.

Credicorp Trading Up 0.7%

Shares of BAP stock opened at $393.83 on Thursday. The stock has a market capitalization of $37.17 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.85 and a beta of 0.88. The company’s fifty day simple moving average is $364.28 and its two-hundred day simple moving average is $344.89. Credicorp Ltd. has a 1 year low of $230.25 and a 1 year high of $403.30. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02.

Insider Buying and Selling at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the sale, the chief executive officer directly owned 7,307 shares in the company, valued at approximately $2,330,933. The trade was a 32.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $362,137.50. Following the sale, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This trade represents a 38.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on BAP. The Goldman Sachs Group boosted their target price on shares of Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and upped their price objective for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. JPMorgan Chase & Co. cut 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, Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Credicorp presently has an average rating of “Moderate Buy” and an average target price of $384.33.

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.