Pictet Asset Management Holding SA Has $44.83 Million Stake in Credicorp Ltd. $BAP

Pictet Asset Management Holding SA reduced its position in shares of Credicorp Ltd. (NYSE:BAP) by 9.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 132,184 shares of the bank’s stock after selling 14,121 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Credicorp were worth $44,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc grew its position in shares of Credicorp by 1.6% in the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock valued at $532,000 after acquiring an additional 29 shares during the period. Cigna Investments Inc. New lifted its stake in Credicorp by 2.8% in the 4th quarter. Cigna Investments Inc. New now owns 1,172 shares of the bank’s stock valued at $336,000 after purchasing an additional 32 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Credicorp by 21.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock valued at $52,000 after purchasing an additional 32 shares during the last quarter. Perpetual Ltd grew its holdings in Credicorp by 0.5% during the fourth quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock worth $1,842,000 after purchasing an additional 34 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Credicorp by 0.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock worth $2,916,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insiders Place Their Bets

In related news, 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 value of $362,137.50. Following the transaction, the chief financial officer directly owned 1,745 shares in the company, valued at approximately $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 7,307 shares in the company, valued at approximately $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on BAP shares. UBS Group upped 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. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target for the company. in a report on Monday, June 15th. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Finally, Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. Five 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 stock presently has an average rating of “Moderate Buy” and an average price target of $377.00.

Credicorp Stock Performance

BAP opened at $389.37 on Wednesday. The business has a fifty day simple moving average of $343.13 and a 200 day simple moving average of $332.98. The company has a market capitalization of $36.75 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. Credicorp Ltd. has a 1 year low of $216.87 and a 1 year high of $398.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02.

About Credicorp

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.