INCA Investments LLC Sells 22,063 Shares of Credicorp Ltd. $BAP

INCA Investments LLC decreased its position in Credicorp Ltd. (NYSE:BAP) by 9.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 206,170 shares of the bank’s stock after selling 22,063 shares during the quarter. Credicorp comprises about 24.8% of INCA Investments LLC’s holdings, making the stock its largest position. INCA Investments LLC’s holdings in Credicorp were worth $69,929,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Capital World Investors boosted its stake in Credicorp by 34.7% in the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock worth $630,081,000 after buying an additional 565,490 shares during the last quarter. Norges Bank acquired a new stake in shares of Credicorp in the fourth quarter worth $150,814,000. PFA Pension Forsikringsaktieselskab purchased a new position in Credicorp in the fourth quarter valued at about $89,754,000. Invesco Ltd. raised its holdings in shares of Credicorp by 27.4% during the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock valued at $359,320,000 after buying an additional 290,585 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Credicorp by 98.9% during the fourth quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock valued at $166,239,000 after purchasing an additional 288,056 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BAP. HSBC upgraded 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 note 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 objective for the company. in a research report on Monday, June 15th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Finally, UBS Group lifted their price objective 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. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $377.00.

Insider Activity at Credicorp

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction 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 transaction, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at approximately $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the sale, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 15.90% of the company’s stock.

Credicorp Trading Up 3.1%

NYSE:BAP opened at $393.45 on Friday. The stock has a fifty day simple moving average of $351.75 and a 200 day simple moving average of $338.32. The firm has a market capitalization of $37.13 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.83 and a beta of 0.88. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a 1-year low of $216.87 and a 1-year high of $399.38.

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.