Quantinno Capital Management LP Boosts Holdings in Credicorp Ltd. $BAP

Quantinno Capital Management LP lifted its holdings in Credicorp Ltd. (NYSE:BAP) by 15.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,341 shares of the bank’s stock after purchasing an additional 1,348 shares during the period. Quantinno Capital Management LP’s holdings in Credicorp were worth $3,508,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BAP. Capital World Investors boosted its position in Credicorp by 34.7% in the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after buying an additional 565,490 shares during the period. Invesco Ltd. increased its position in shares of Credicorp by 2.3% during the fourth quarter. Invesco Ltd. now owns 1,380,791 shares of the bank’s stock worth $396,287,000 after acquiring an additional 31,383 shares during the period. State Street Corp raised its stake in shares of Credicorp by 5.5% in the fourth quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock valued at $383,685,000 after acquiring an additional 69,329 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Credicorp by 2.2% in the fourth quarter. Schroder Investment Management Group now owns 1,107,420 shares of the bank’s stock valued at $317,830,000 after acquiring an additional 23,777 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in Credicorp by 1.5% in the fourth quarter. Pzena Investment Management LLC now owns 1,068,942 shares of the bank’s stock valued at $306,786,000 after purchasing an additional 15,886 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Credicorp

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’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 value of $362,137.50. Following the completion of the transaction, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.90% of the company’s stock.

Credicorp Stock Performance

Shares of BAP stock opened at $386.37 on Friday. Credicorp Ltd. has a 12 month low of $230.45 and a 12 month high of $413.24. 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 company has a market cap of $36.47 billion, a P/E ratio of 14.89, a PEG ratio of 0.84 and a beta of 0.90. The firm has a fifty day moving average price of $378.57 and a 200 day moving average price of $351.95.

Analyst Upgrades and Downgrades

BAP has been the subject of several analyst reports. HSBC raised Credicorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. JPMorgan Chase & Co. downgraded 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. The Goldman Sachs Group boosted their price objective on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings upgraded shares of Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $384.33.

Credicorp Company 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.