45,107 Credicorp Ltd. $BAP Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP lowered its stake in shares of Credicorp Ltd. (NYSE:BAP) by 18.0% during the third quarter, Holdings Channel.com reports. The firm owned 205,824 shares of the bank’s stock after selling 45,107 shares during the quarter. Artemis Investment Management LLP’s holdings in Credicorp were worth $78,186,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Credicorp during the 2nd quarter valued at about $1,933,666,000. Royal Bank of Canada raised its holdings in shares of Credicorp by 0.8% during the first quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock worth $584,042,000 after purchasing an additional 13,249 shares during the last quarter. Pzena Investment Management LLC acquired a new position in shares of Credicorp in the 2nd quarter valued at about $325,911,000. Bank of Nova Scotia purchased a new stake in Credicorp in the 2nd quarter worth approximately $311,294,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Credicorp by 15.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 842,780 shares of the bank’s stock valued at $285,854,000 after buying an additional 112,418 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BAP shares. JPMorgan Chase & Co. upgraded Credicorp from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $453.00 to $482.00 in a report on Wednesday, September 16th. Weiss Ratings cut shares of Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, September 25th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. The Goldman Sachs Group lifted their price target on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, UBS Group lifted their price target on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Credicorp has a consensus rating of “Moderate Buy” and an average target price of $431.80.

Credicorp Stock Performance

Shares of NYSE:BAP traded up $8.45 during midday trading on Thursday, hitting $384.56. The stock had a trading volume of 169,972 shares, compared to its average volume of 422,290. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $381.23 and a two-hundred day moving average price of $362.72. Credicorp Ltd. has a 1 year low of $230.45 and a 1 year high of $413.24. The company has a market capitalization of $36.29 billion, a PE ratio of 14.24, a P/E/G ratio of 0.75 and a beta of 0.92.

About Credicorp

Credicorp Ltd. (NYSE: BAP) is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, investment management, pension administration and investment banking services to individuals, businesses and institutional clients.

Its principal businesses include Banco de Crédito del Perú, one of Peru’s leading banks; Mibanco, which focuses on microfinance and small-business lending; Pacífico Seguros, an insurance provider; Prima AFP, which manages private pension accounts; and Credicorp Capital, which offers investment banking, asset management, brokerage and related capital-markets services.

Credicorp’s operations are centered primarily in Peru, with selected investment banking and capital-markets activities serving clients elsewhere in the Latin American region.