Candriam S.C.A. lessened its stake in shares of Credicorp Ltd. (NYSE:BAP – Free Report) by 9.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 105,200 shares of the bank’s stock after selling 11,200 shares during the quarter. Candriam S.C.A.’s holdings in Credicorp were worth $40,108,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pin Oak Investment Advisors Inc. bought a new position in shares of Credicorp during the second quarter worth approximately $25,000. Quantbot Technologies LP acquired a new stake in shares of Credicorp during the 2nd quarter worth $26,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Credicorp in the second quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Credicorp in the 1st quarter valued at about $40,000. Finally, GAMMA Investing LLC increased its stake in Credicorp by 33.7% in the third quarter. GAMMA Investing LLC now owns 111 shares of the bank’s stock valued at $42,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.
Credicorp Stock Performance
NYSE:BAP opened at $348.36 on Friday. The company has a fifty day moving average of $376.00 and a 200-day moving average of $359.91. The firm has a market capitalization of $32.88 billion, a P/E ratio of 12.91, a P/E/G ratio of 0.67 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. Credicorp Ltd. has a twelve month low of $230.45 and a twelve month high of $413.24.
Wall Street Analysts Forecast Growth
Several research analysts have commented on BAP shares. JPMorgan Chase & Co. raised Credicorp from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $453.00 to $482.00 in a research note on Wednesday, September 16th. The Goldman Sachs Group upped their price objective on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. UBS Group upped their price target on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Weiss Ratings upgraded Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $431.80.
Read Our Latest Stock Analysis on BAP
Credicorp Company Profile
Credicorp is a financial services holding company based in Lima, Peru. Through its subsidiaries, it provides commercial and retail banking, insurance, pension-fund management, investment banking, wealth management, microfinance and digital payment services.
Its businesses include Banco de Crédito del Perú (BCP), the country’s largest bank; Pacífico Seguros; pension administrator Prima AFP; investment and wealth-management firm Credicorp Capital; and microfinance bank Mibanco. BCP traces its history to 1889, when it was established as Banco Italiano.
Credicorp’s operations are centered in Peru, with additional activities in other Latin American markets, particularly through Credicorp Capital.
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