WCM Investment Management LLC Decreases Stock Holdings in Credicorp Ltd. $BAP

WCM Investment Management LLC reduced its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 8.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 262,968 shares of the bank’s stock after selling 23,031 shares during the quarter. WCM Investment Management LLC owned approximately 0.28% of Credicorp worth $84,000,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Sovran Advisors LLC bought a new stake in Credicorp in the fourth quarter worth about $1,358,000. Marshall Financial Group LLC bought a new position in shares of Credicorp during the 4th quarter valued at approximately $912,000. Ninety One North America Inc. increased its stake in shares of Credicorp by 9.9% during the 4th quarter. Ninety One North America Inc. now owns 166,814 shares of the bank’s stock worth $47,876,000 after purchasing an additional 14,994 shares during the last quarter. Assetmark Inc. increased its stake in shares of Credicorp by 8.4% during the 4th quarter. Assetmark Inc. now owns 21,820 shares of the bank’s stock worth $6,262,000 after purchasing an additional 1,688 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Credicorp by 7,441.9% in the 4th quarter. SG Americas Securities LLC now owns 32,053 shares of the bank’s stock worth $9,199,000 after purchasing an additional 31,628 shares during the period. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BAP. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. The Goldman Sachs Group boosted their target price on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research note on Thursday. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and increased their price target for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. UBS Group boosted their price objective on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Credicorp has an average rating of “Moderate Buy” and a consensus price target of $384.33.

Credicorp Price Performance

Credicorp stock opened at $391.64 on Monday. Credicorp Ltd. has a one year low of $224.94 and a one year high of $403.30. The business has a fifty day moving average price of $360.14 and a 200-day moving average price of $342.70. 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 firm has a market capitalization of $36.96 billion, a P/E ratio of 15.10, a PEG ratio of 0.85 and a beta of 0.88.

Insider Buying and Selling at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the transaction, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. The trade was a 38.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’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 completion of the transaction, 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 SEC filing for this sale provides additional information. 15.90% of the stock is owned by company insiders.

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.