First Trust Advisors LP Boosts Stock Holdings in Credicorp Ltd. $BAP

First Trust Advisors LP raised its stake in Credicorp Ltd. (NYSE:BAP) by 99.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,279 shares of the bank’s stock after purchasing an additional 3,623 shares during the period. First Trust Advisors LP’s holdings in Credicorp were worth $2,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new stake in Credicorp during the third quarter worth approximately $35,000. Raymond James Financial Inc. acquired a new stake in Credicorp during the 2nd quarter worth $38,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Credicorp during the first quarter worth about $40,000. Kestra Advisory Services LLC purchased a new position in shares of Credicorp in the 4th quarter valued at approximately $42,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Credicorp in the 4th quarter valued at $46,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Stock Performance

Credicorp stock opened at $386.37 on Friday. The firm has a market capitalization of $36.47 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.85 and a beta of 0.90. The stock’s 50 day moving average price is $378.57 and its 200 day moving average price is $351.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24.

Insider Transactions at Credicorp

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction 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 directly owned 7,307 shares in the company, valued at $2,330,933. This represents a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 1,745 shares in the company, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BAP shares. Weiss Ratings upgraded Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday. The Goldman Sachs Group raised their target price on shares of Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective on the stock. in a research report on Monday, June 15th. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Finally, Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Credicorp has a consensus rating of “Moderate Buy” and an average 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.