Y Intercept Hong Kong Ltd Makes New $1.80 Million Investment in Credicorp Ltd. $BAP

Y Intercept Hong Kong Ltd bought a new stake in Credicorp Ltd. (NYSE:BAP) in the first quarter, HoldingsChannel.com reports. The fund bought 5,306 shares of the bank’s stock, valued at approximately $1,800,000.

Several other institutional investors also recently made changes to their positions in BAP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Credicorp in the 1st quarter worth approximately $78,000. Cetera Investment Advisers boosted its position in Credicorp by 36.3% during the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock valued at $399,000 after purchasing an additional 476 shares during the period. State Street Corp grew its stake in Credicorp by 1.6% during the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after buying an additional 19,361 shares during the last quarter. Nebula Research & Development LLC bought a new position in Credicorp during the 2nd quarter worth $355,000. Finally, Quantinno Capital Management LP increased its position in Credicorp by 24.7% in the second quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock worth $1,222,000 after buying an additional 1,083 shares during the period. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’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 transaction of $1,116,500.00. Following the transaction, the chief executive officer owned 7,307 shares in the company, valued at $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief financial officer owned 1,745 shares of the company’s stock, valued at $588,937.50. This trade represents a 38.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and raised their target price for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Weiss Ratings cut shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. 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 report on Tuesday, May 26th. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. cut shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a research report on Monday, June 15th. Five 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, the company presently has an average rating of “Moderate Buy” and an average target price of $377.00.

Credicorp Stock Up 3.1%

Credicorp stock opened at $393.45 on Friday. Credicorp Ltd. has a 52 week low of $216.87 and a 52 week high of $399.38. The stock has a market cap of $37.13 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.83 and a beta of 0.88. The company’s 50-day moving average price is $351.75 and its two-hundred day moving average price is $338.32. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.

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.