Deprince Race & Zollo Inc. Sells 2,620 Shares of Credicorp Ltd. $BAP

Deprince Race & Zollo Inc. lowered its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 5.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 42,957 shares of the bank’s stock after selling 2,620 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Credicorp were worth $14,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BAP. Capital World Investors bought a new stake in shares of Credicorp in the 3rd quarter worth about $434,014,000. Norges Bank bought a new position in shares of Credicorp in the 4th quarter valued at about $150,814,000. PFA Pension Forsikringsaktieselskab purchased a new position in Credicorp in the fourth quarter worth about $89,754,000. Invesco Ltd. grew its position in Credicorp by 27.4% in the third quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock worth $359,320,000 after acquiring an additional 290,585 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Credicorp by 98.9% during the fourth quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock worth $166,239,000 after acquiring an additional 288,056 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Stock Up 1.0%

Shares of NYSE BAP opened at $390.98 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $36.90 billion, a P/E ratio of 15.07, a PEG ratio of 0.84 and a beta of 0.88. Credicorp Ltd. has a 1 year low of $216.87 and a 1 year high of $399.38. The firm has a 50-day simple moving average of $345.32 and a two-hundred day simple moving average of $334.49.

Insider Buying and Selling

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,116,500.00. Following the transaction, the chief executive officer owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. The trade was a 32.39% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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