Wells Fargo & Company MN reduced its stake in shares of Credicorp Ltd. (NYSE:BAP) by 9.4% in the third quarter, HoldingsChannel reports. The firm owned 154,255 shares of the bank’s stock after selling 16,084 shares during the period. Wells Fargo & Company MN’s holdings in Credicorp were worth $34,411,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of BAP. Cornerstone Wealth Management LLC purchased a new position in shares of Credicorp in the 2nd quarter worth approximately $157,000. Acadian Asset Management LLC boosted its stake in shares of Credicorp by 34.5% in the 2nd quarter. Acadian Asset Management LLC now owns 8,550 shares of the bank’s stock worth $1,925,000 after buying an additional 2,195 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Credicorp by 14.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 2,192 shares of the bank’s stock worth $493,000 after buying an additional 283 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Credicorp by 20.5% in the 2nd quarter. Bessemer Group Inc. now owns 2,782 shares of the bank’s stock worth $626,000 after buying an additional 474 shares during the last quarter. Finally, Eqis Capital Management Inc. purchased a new position in shares of Credicorp in the 2nd quarter worth approximately $408,000. 66.21% of the stock is owned by hedge funds and other institutional investors.
Separately, UBS Group upgraded Credicorp from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $252.00.
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Credicorp Ltd., through its banking and non-banking subsidiaries, provides a range of financial, insurance, and health services and products primarily in Peru and internationally. It operates through four segments: Banking, Insurance, Pension Funds, and Investment Banking. The company offers deposits, current accounts, loans, and credit facilities; and provides private pension fund management services to affiliated pensioners.
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