Credicorp Ltd. $BAP Stock: TT International Asset Management LTD Reduces Position

TT International Asset Management LTD trimmed its position in shares of Credicorp Ltd. (NYSE:BAP) by 27.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 258,417 shares of the bank’s stock after selling 97,079 shares during the quarter. Credicorp comprises 10.9% of TT International Asset Management LTD’s holdings, making the stock its 2nd biggest holding. TT International Asset Management LTD’s holdings in Credicorp were worth $98,165,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credicorp in the third quarter worth $60,000. Aprio Wealth Management LLC grew its stake in shares of Credicorp by 1.9% during the 3rd quarter. Aprio Wealth Management LLC now owns 1,548 shares of the bank’s stock worth $588,000 after acquiring an additional 29 shares during the period. Ashoka WhiteOak Capital Pte Ltd grew its stake in shares of Credicorp by 103.1% during the 3rd quarter. Ashoka WhiteOak Capital Pte Ltd now owns 18,830 shares of the bank’s stock worth $7,231,000 after acquiring an additional 9,560 shares during the period. Inspire Investing LLC grew its stake in shares of Credicorp by 9.7% during the 3rd quarter. Inspire Investing LLC now owns 6,399 shares of the bank’s stock worth $2,431,000 after acquiring an additional 567 shares during the period. Finally, Genesee Capital Advisors LLC increased its holdings in Credicorp by 4.2% in the 3rd quarter. Genesee Capital Advisors LLC now owns 2,778 shares of the bank’s stock worth $1,055,000 after acquiring an additional 113 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Price Performance

Shares of NYSE BAP opened at $351.78 on Wednesday. The stock has a market cap of $33.20 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.68 and a beta of 0.89. Credicorp Ltd. has a fifty-two week low of $230.45 and a fifty-two week high of $413.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average of $377.67 and a 200-day moving average of $359.48.

Analyst Ratings Changes

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