Quantinno Capital Management LP Raises Holdings in Credicorp Ltd. $BAP

Quantinno Capital Management LP lifted its position in shares of Credicorp Ltd. (NYSE:BAP) by 15.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,341 shares of the bank’s stock after purchasing an additional 1,348 shares during the period. Quantinno Capital Management LP’s holdings in Credicorp were worth $3,508,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in Credicorp during the 3rd quarter worth approximately $35,000. Raymond James Financial Inc. acquired a new stake in shares of Credicorp in the second quarter valued at approximately $38,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Credicorp in the first quarter valued at approximately $40,000. Kestra Advisory Services LLC purchased a new position in shares of Credicorp during the fourth quarter worth approximately $42,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credicorp during the fourth quarter worth approximately $46,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Stock Down 1.6%

Shares of Credicorp stock opened at $386.37 on Friday. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24. The company has a market cap of $36.47 billion, a P/E ratio of 14.89, a PEG ratio of 0.84 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day moving average of $378.57 and a two-hundred day moving average of $351.95.

Insider Transactions at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction dated Friday, June 5th. The shares were 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 directly owned 7,307 shares of the company’s stock, valued at $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction dated 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 of the company’s stock, valued at $588,937.50. This 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.

Wall Street Analyst Weigh In

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

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.