Principal Financial Group Inc. Cuts Stock Holdings in Credicorp Ltd. $BAP

by · The Markets Daily

Principal Financial Group Inc. lowered its stake in shares of Credicorp Ltd. (NYSE:BAP – Free Report) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 577,929 shares of the bank’s stock after selling 1,302 shares during the quarter. Principal Financial Group Inc. owned 0.61% of Credicorp worth $196,022,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brown Brothers Harriman & Co. purchased a new position in Credicorp during the 3rd quarter worth $35,000. Raymond James Financial Inc. purchased a new stake in shares of Credicorp during the second quarter valued at approximately $38,000. Kestra Advisory Services LLC bought a new stake in Credicorp during the fourth quarter worth $42,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Credicorp during the fourth quarter worth $46,000. Finally, Quarry LP purchased a new position in Credicorp in the third quarter worth $46,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Trading Up 0.7%

Shares of BAP opened at $391.84 on Wednesday. Credicorp Ltd. has a fifty-two week low of $216.87 and a fifty-two week high of $403.30. The business has a 50-day moving average of $356.17 and a 200 day moving average of $340.54. The firm has a market cap of $36.98 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02.

Insider Activity

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 7,307 shares in the company, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total transaction of $362,137.50. Following the sale, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. The trade was 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 company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of 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 shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price on the stock. in a research note on Monday, June 15th. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and increased their target price for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Finally, Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $377.00.

View Our Latest Analysis on Credicorp

Credicorp Company Profile

(Free Report)

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.

Further Reading

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