DnB Asset Management AS lowered its stake in Credicorp Ltd. (NYSE:BAP – Get Rating) by 25.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,051 shares of the bank’s stock after selling 6,531 shares during the period. DnB Asset Management AS’s holdings in Credicorp were worth $2,284,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in BAP. Renaissance Technologies LLC acquired a new stake in Credicorp in the fourth quarter valued at approximately $4,444,000. Geode Capital Management LLC boosted its position in Credicorp by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 329,562 shares of the bank’s stock valued at $39,992,000 after buying an additional 26,389 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Credicorp by 61.5% in the fourth quarter. Public Sector Pension Investment Board now owns 61,768 shares of the bank’s stock valued at $7,540,000 after buying an additional 23,513 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Credicorp by 48.2% in the fourth quarter. Nuveen Asset Management LLC now owns 618,548 shares of the bank’s stock valued at $75,507,000 after buying an additional 201,102 shares in the last quarter. Finally, Unigestion Holding SA acquired a new stake in Credicorp in the fourth quarter valued at approximately $2,514,000.
Analyst Upgrades and Downgrades
Separately, Credit Suisse Group upgraded shares of Credicorp from a “neutral” rating to an “outperform” rating and cut their target price for the company from $151.32 to $142.00 in a research report on Tuesday, July 19th.
Credicorp Price Performance
Credicorp Company Profile
Credicorp Ltd., a financial service holding company, provides various financial, insurance, and health services and products primarily in Peru and internationally. The company's Universal Banking segment offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.
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