Axiom International Investors LLC DE trimmed its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 353,577 shares of the bank’s stock after selling 3,316 shares during the period. Credicorp comprises 1.6% of Axiom International Investors LLC DE’s investment portfolio, making the stock its 14th largest position. Axiom International Investors LLC DE owned 0.44% of Credicorp worth $72,490,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Credicorp by 8.2% during the second quarter. JPMorgan Chase & Co. now owns 2,816,921 shares of the bank’s stock valued at $505,327,000 after buying an additional 213,085 shares in the last quarter. Vanguard Group Inc. lifted its position in Credicorp by 4.1% in the second quarter. Vanguard Group Inc. now owns 2,406,803 shares of the bank’s stock worth $431,756,000 after purchasing an additional 95,458 shares during the period. FMR LLC lifted its position in Credicorp by 14.7% in the second quarter. FMR LLC now owns 1,707,394 shares of the bank’s stock worth $306,289,000 after purchasing an additional 218,893 shares during the period. Nordea Investment Management AB lifted its position in Credicorp by 1.3% in the second quarter. Nordea Investment Management AB now owns 1,333,036 shares of the bank’s stock worth $239,133,000 after purchasing an additional 16,691 shares during the period. Finally, Harding Loevner LP lifted its position in Credicorp by 1.4% in the second quarter. Harding Loevner LP now owns 1,034,758 shares of the bank’s stock worth $185,625,000 after purchasing an additional 14,620 shares during the period. 66.16% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently commented on BAP shares. Bank of America cut Credicorp from a “buy” rating to a “neutral” rating in a research report on Monday, September 18th. Goldman Sachs Group reiterated a “buy” rating and set a $248.00 price objective on shares of Credicorp in a research note on Monday, September 11th. Zacks Investment Research upgraded Credicorp from a “hold” rating to a “buy” rating and set a $234.00 price objective for the company in a research note on Friday, November 10th. HSBC lowered Credicorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, lowered Credicorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Credicorp presently has a consensus rating of “Buy” and a consensus price target of $224.25.
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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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