Oppenheimer Asset Management Inc. Purchases New Holdings in Credicorp Ltd. $BAP

Oppenheimer Asset Management Inc. purchased a new position in shares of Credicorp Ltd. (NYSE:BAP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,892 shares of the bank’s stock, valued at approximately $3,464,000.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc raised its holdings in 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 in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Credicorp by 21.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after purchasing an additional 32 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Credicorp by 0.4% in 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. Fiduciary Trust Co increased its position in shares of Credicorp by 1.8% in the third quarter. Fiduciary Trust Co now owns 2,849 shares of the bank’s stock worth $759,000 after purchasing an additional 50 shares during the period. Finally, CWM LLC raised its stake in Credicorp by 16.2% in the fourth quarter. CWM LLC now owns 394 shares of the bank’s stock valued at $113,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Credicorp

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were 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. The trade was a 38.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $1,116,500.00. Following the completion of the sale, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, August 6th. UBS Group raised their target price on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. cut shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a research report on Monday, June 15th. The Goldman Sachs Group upped their price target on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Credicorp has a consensus rating of “Moderate Buy” and a consensus price target of $384.33.

Credicorp Stock Up 3.2%

NYSE:BAP opened at $386.98 on Friday. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $36.52 billion, a PE ratio of 14.34, a P/E/G ratio of 0.84 and a beta of 0.90. The firm’s 50 day simple moving average is $383.23 and its 200 day simple moving average is $353.55.

Credicorp 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.