On August 26, 2023, it was reported that Jarislowsky Fraser Ltd. had reduced its holdings in Credicorp Ltd. (NYSE:BAP) by 23.4% during the first quarter of the year. This information came from the firm’s most recent disclosure with the Securities and Exchange Commission (SEC). At the end of this period, Jarislowsky Fraser Ltd. owned 35,585 shares of the bank’s stock, representing a decrease of 10,852 shares from its previous holdings. According to the most recent SEC filing, these shares were valued at $4,711,000.
This news reflects a significant change in Jarislowsky Fraser Ltd.’s investment strategy as they have chosen to reduce their exposure to Credicorp Ltd. It is important to note that hedge funds like Jarislowsky Fraser Ltd. are required to report their holdings to the SEC on a quarterly basis through a form called 13F filings.
Credicorp Ltd., a financial institution based in Lima, Peru, operates as one of Latin America’s largest banks. As a result, movements in its stock attract attention from investors and analysts looking for potential investment opportunities.
For those interested in exploring more about Credicorp and its standing among other hedge funds, HoldingsChannel.com offers access to the latest 13F filings and insider trades relating to Credicorp Ltd. It provides valuable insights into other investment firms’ positions on this stock.
It is always crucial for investors to stay updated with such developments in order to make informed decisions regarding their own investment portfolios. The information provided through sources like SEC filings can offer valuable insights into market trends and strategies employed by prominent investment firms such as Jarislowsky Fraser Ltd.
As this article explores recent events related to Credicorp Ltd.’s stock ownership by Jarislowsky Fraser Ltd., it serves as a reminder for investors to conduct thorough research and stay up-to-date with market developments. With access to platforms like HoldingsChannel.com, investors can gain a deeper understanding of the investment landscape and make well-informed decisions based on reliable information.
In conclusion, Jarislowsky Fraser Ltd. has reduced its holdings in Credicorp Ltd., an influential bank in Latin America, as reported in their recent SEC filing. Knowledge about such changes can be beneficial for those keen on evaluating investment opportunities and staying updated with important company-specific developments.
Credicorp Ltd.
BAP
Strong Buy
Updated on: 27/08/2023
Credicorp Ltd. Garners Attention from Institutional Investors and Hedge Funds, Reflecting Confidence in Growth Potential
Credicorp Ltd., a leading financial institution in Peru, has recently attracted the attention of various institutional investors and hedge funds. The Pathstone Family Office LLC increased its stake in Credicorp by 2.8% during the third quarter, acquiring an additional 72 shares valued at $329,000. US Bancorp DE also raised its position by 10.3% in the first quarter, adding 86 shares worth $122,000 to their portfolio. Similarly, Park Place Capital Corp boosted its stake by 5.2% and PNC Financial Services Group Inc. increased their position by 20%. Voya Investment Management LLC, too, acquired more shares of Credicorp during the fourth quarter.
These moves indicate a strong interest from institutional investors and hedge funds towards Credicorp as they recognize potential value and growth opportunities within the company. In fact, these investors now own 71.48% of the bank’s stock.
Financial analysts have also taken note of Credicorp’s performance and prospects. Scotiabank upgraded their rating on the stock from “sector perform” to “sector outperform” on July 7th while TheStreet improved their rating from “c+” to “b-“. StockNews.com initiated coverage on Credicorp with a “hold” rating on August 17th. With one hold rating and four buy ratings from analysts, Bloomberg.com reports that the stock has an average rating of “Moderate Buy” with an average price target of $153.00.
To stay updated on other hedge funds holding Credicorp Ltd., investors can visit HoldingsChannel.com to access the latest filings and insider trades related to the company.
On Friday, August 26th, Credicorp Ltd.’s stocks (NYSE: BAP) traded at $140.70, down $0.57 from previous trading sessions. Approximately 26,782 shares were exchanged, which is lower than the average volume of 350,715. The 50-day moving average was recorded at $150.04, while the 200-day moving average stood at $138.92. Credicorp’s share price has seen a range of $118.33 to $160.15 in the past year, indicating its volatility within the market. Currently, the company boasts a market capitalization of $11.19 billion and a P/E ratio of 9.14. Additionally, it possesses a favorable price-to-earnings-growth ratio of 0.61 and a beta of 0.97. Credicorp maintains a conservative debt-to-equity ratio of 0.46 and exhibits healthy liquidity with both quick and current ratios calculated at 1.01.
Credicorp Ltd.’s core business encompasses a wide range of financial services including banking, insurance, and health services within Peru as well as globally. Its Universal Banking segment specializes in granting credits and financial instruments to individuals and legal entities while also offering various deposit options including checking accounts to cater to diverse customer needs. The Insurance and Pensions segment handles insurance policies for commercial property, transportation, marine vessels, automobiles, life, health, and pensions along with management services for private pension funds.
As Credicorp continues to attract interest from institutional investors and hedge funds due to its strong financial performance and growth potential in the financial sector, it remains an intriguing investment opportunity for those looking to diversify their portfolios across emerging markets like Peru’s robust economy.