Sumitomo Mitsui Trust Group Inc. Reduces Position in Credicorp Ltd. $BAP

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 3.4% in the first quarter, Holdings Channel.com reports. The firm owned 164,343 shares of the bank’s stock after selling 5,859 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Credicorp were worth $55,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of BAP. Sovran Advisors LLC bought a new position in Credicorp in the 4th quarter worth approximately $1,358,000. Marshall Financial Group LLC purchased a new position in Credicorp in the 4th quarter valued at approximately $912,000. Ninety One North America Inc. raised its holdings in Credicorp by 9.9% during the 4th quarter. Ninety One North America Inc. now owns 166,814 shares of the bank’s stock valued at $47,876,000 after acquiring an additional 14,994 shares during the period. Assetmark Inc. raised its holdings in Credicorp by 8.4% during the 4th quarter. Assetmark Inc. now owns 21,820 shares of the bank’s stock valued at $6,262,000 after acquiring an additional 1,688 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Credicorp by 7,441.9% during the fourth quarter. SG Americas Securities LLC now owns 32,053 shares of the bank’s stock worth $9,199,000 after acquiring an additional 31,628 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

BAP has been the subject of several recent research reports. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. UBS Group lifted their target price on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. JPMorgan Chase & Co. downgraded shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target on the stock. in a report on Monday, June 15th. Finally, HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and raised their price objective for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $377.00.

Credicorp Price Performance

Shares of Credicorp stock traded up $9.19 during trading on Friday, hitting $401.11. The stock had a trading volume of 205,209 shares, compared to its average volume of 361,199. 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 12 month low of $216.87 and a 12 month high of $402.19. The firm has a market cap of $37.86 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 0.87 and a beta of 0.88. The business’s 50-day moving average is $353.41 and its 200 day moving average is $338.76.

Insider Activity

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the sale, the chief financial officer owned 1,745 shares of the company’s stock, valued at $588,937.50. This trade represents a 38.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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. 15.90% of the stock is owned by insiders.

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.