SEB Asset Management AB Purchases New Shares in Credicorp Ltd. $BAP

SEB Asset Management AB acquired a new position in Credicorp Ltd. (NYSE:BAP) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 51,932 shares of the bank’s stock, valued at approximately $17,614,000.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its stake in shares of Credicorp by 34.7% in the fourth 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. Norges Bank acquired a new position in Credicorp in the fourth quarter valued at about $150,814,000. PFA Pension Forsikringsaktieselskab acquired a new stake in Credicorp during the fourth quarter worth about $89,754,000. Invesco Ltd. increased its holdings in Credicorp by 27.4% in 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. lifted its holdings in shares of Credicorp by 98.9% during the 4th 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 period. 89.81% of the stock is owned by institutional investors.

Insider Activity

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction dated 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 transaction, the chief financial officer owned 1,745 shares in the company, valued at approximately $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 accessible through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp 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 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 disclosure for this sale is available in the SEC filing. Insiders own 15.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. JPMorgan Chase & Co. cut 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 upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. The Goldman Sachs Group increased their target price on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, UBS Group lifted their target price on shares of Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $384.33.

Credicorp Trading Down 1.1%

BAP opened at $386.29 on Tuesday. The company has a fifty day moving average price of $361.42 and a two-hundred day moving average price of $343.39. The company has a market cap of $36.46 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a 1-year low of $225.49 and a 1-year high of $403.30.

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.