FIL Ltd reduced its position in Credicorp Ltd. (NYSE:BAP) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 859,308 shares of the bank’s stock after selling 49,210 shares during the quarter. FIL Ltd owned approximately 1.08% of Credicorp worth $154,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in BAP. BlackRock Inc. increased its position in Credicorp by 9,913.1% in the first quarter. BlackRock Inc. now owns 4,287,311 shares of the bank’s stock worth $700,118,000 after buying an additional 4,244,494 shares during the last quarter. Vontobel Asset Management Inc. purchased a new stake in Credicorp in the second quarter worth $192,225,000. Vanguard Group Inc. increased its position in Credicorp by 24.7% in the first quarter. Vanguard Group Inc. now owns 2,311,345 shares of the bank’s stock worth $377,442,000 after buying an additional 458,288 shares during the last quarter. OppenheimerFunds Inc. increased its position in Credicorp by 127.4% in the first quarter. OppenheimerFunds Inc. now owns 616,860 shares of the bank’s stock worth $100,733,000 after buying an additional 345,605 shares during the last quarter. Finally, FMR LLC increased its position in Credicorp by 29.2% in the first quarter. FMR LLC now owns 1,488,501 shares of the bank’s stock worth $243,072,000 after buying an additional 336,149 shares during the last quarter. 66.43% of the stock is owned by institutional investors and hedge funds.
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A number of analysts have issued reports on BAP shares. Zacks Investment Research raised Credicorp from a “hold” rating to a “buy” rating and set a $194.00 target price for the company in a research report on Wednesday, May 24th. BidaskClub raised Credicorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, UBS AG downgraded Credicorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 27th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Credicorp presently has a consensus rating of “Buy” and a consensus target price of $217.00.
Credicorp Ltd. is a financial services holding company in Peru. The Company has four operating segments based on its products and services, which include banking, insurance, pension funds and investment banking. Its operating subsidiaries include Banco de Credito del Peru; Atlantic Security Bank, which it holds through Atlantic Security Holding Corporation; El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros (Grupo Pacifico); Prima AFP SA, and Credicorp Capital Ltd.
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