Credicorp Ltd. $BAP Stock: Sumitomo Mitsui Trust Group Inc. Decreases Position

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Credicorp Ltd. (NYSE:BAP) by 2.7% in the third quarter, Holdings Channel.com reports. The firm owned 156,305 shares of the bank’s stock after selling 4,335 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Credicorp were worth $59,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Credicorp in the 2nd quarter valued at about $1,933,666,000. Pzena Investment Management LLC acquired a new stake in shares of Credicorp during the second quarter valued at about $325,911,000. Bank of Nova Scotia acquired a new stake in shares of Credicorp during the second quarter valued at about $311,294,000. Bank of America Corp DE purchased a new stake in shares of Credicorp during the second quarter worth about $264,501,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Credicorp during the second quarter worth about $243,544,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Trading Up 0.2%

Shares of NYSE BAP opened at $351.78 on Wednesday. The stock’s 50 day moving average price is $377.67 and its two-hundred day moving average price is $359.48. Credicorp Ltd. has a 52-week low of $230.45 and a 52-week high of $413.24. The stock has a market capitalization of $33.20 billion, a P/E ratio of 13.00, a PEG ratio of 0.68 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 23rd. UBS Group lifted their price objective on Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, JPMorgan Chase & Co. raised Credicorp from a “neutral” rating to an “overweight” rating and upped their target price for the company from $453.00 to $482.00 in a research report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $431.80.

Credicorp Profile

Credicorp Ltd. (NYSE: BAP) is a Peru-based financial services holding company whose businesses provide banking, insurance, investment management and pension services. Its principal subsidiary is Banco de Crédito del Perú (BCP), one of Peru’s largest banks, which serves individual, business and corporate customers through deposits, lending, payments, treasury and other financial products.

Credicorp also operates Mibanco, a financial institution focused on microfinance and small businesses, and Pacífico Seguros, which offers life, health, property and casualty insurance.