Bank of New York Mellon Corp Has $51.46 Million Stake in Credicorp Ltd. $BAP

Bank of New York Mellon Corp lowered its stake in Credicorp Ltd. (NYSE:BAP) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,709 shares of the bank’s stock after selling 11,104 shares during the quarter. Bank of New York Mellon Corp owned 0.16% of Credicorp worth $51,457,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital World Investors grew its holdings in Credicorp by 34.7% in the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock worth $630,081,000 after purchasing an additional 565,490 shares during the period. Norges Bank bought a new stake in Credicorp in the fourth quarter valued at $150,814,000. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Credicorp during the fourth quarter valued at about $89,754,000. Invesco Ltd. raised its holdings in shares of Credicorp by 27.4% during the third quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock valued at $359,320,000 after purchasing an additional 290,585 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Credicorp by 98.9% during the fourth quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock valued at $166,239,000 after purchasing an additional 288,056 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Trading Down 1.3%

BAP opened at $388.51 on Friday. Credicorp Ltd. has a fifty-two week low of $230.25 and a fifty-two week high of $403.30. The firm has a market capitalization of $36.67 billion, a PE ratio of 14.98, a P/E/G ratio of 0.86 and a beta of 0.88. 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’s 50-day moving average is $365.49 and its 200 day moving average is $345.61.

Insider Activity at Credicorp

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction on 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 trade represents a 32.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the transaction, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on BAP. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and raised their target price for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. JPMorgan Chase & Co. lowered 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. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. Finally, 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 report on Thursday, July 16th. Five research 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 has a consensus rating of “Moderate Buy” and an average price target of $384.33.

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.