Handelsbanken Fonder AB Sells 81,765 Shares of Credicorp Ltd. $BAP

Handelsbanken Fonder AB lessened its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 27.4% during the second quarter, Holdings Channel reports. The firm owned 216,757 shares of the bank’s stock after selling 81,765 shares during the quarter. Handelsbanken Fonder AB’s holdings in Credicorp were worth $84,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Credicorp in the 1st quarter worth approximately $40,000. Brown Brothers Harriman & Co. bought a new stake in shares of Credicorp in the 3rd quarter worth approximately $35,000. Kestra Advisory Services LLC purchased a new position in shares of Credicorp during the fourth quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credicorp during the fourth quarter valued at approximately $46,000. Finally, Raymond James Financial Inc. purchased a new stake in Credicorp in the second quarter worth $38,000. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on BAP shares. Weiss Ratings raised shares of Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday. UBS Group lifted their target price on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. JPMorgan Chase & Co. lowered shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a report on Monday, June 15th. Finally, Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $384.33.

Insider Buying and Selling

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp 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 completion of the transaction, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the completion of the sale, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This trade represents a 38.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 15.90% of the company’s stock.

Credicorp Trading Down 1.3%

NYSE:BAP opened at $381.89 on Tuesday. The firm has a market capitalization of $36.04 billion, a P/E ratio of 14.72, a PEG ratio of 0.84 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24. The company’s 50-day simple moving average is $379.38 and its 200 day simple moving average is $352.55.

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.