Franklin Resources Inc. Trims Position in Credicorp Ltd. (NYSE:BAP)

Franklin Resources Inc. decreased its stake in shares of Credicorp Ltd. (NYSE:BAP) by 9.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 131,906 shares of the bank’s stock after selling 14,483 shares during the period. Franklin Resources Inc.’s holdings in Credicorp were worth $24,467,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Credicorp by 6.1% during the third quarter. FMR LLC now owns 3,446,621 shares of the bank’s stock valued at $623,735,000 after acquiring an additional 199,137 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Credicorp by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,042,882 shares of the bank’s stock worth $550,670,000 after purchasing an additional 13,868 shares during the period. Baillie Gifford & Co. increased its holdings in Credicorp by 2.5% during the 3rd quarter. Baillie Gifford & Co. now owns 1,674,261 shares of the bank’s stock worth $302,991,000 after purchasing an additional 41,409 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Credicorp by 782.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,326,947 shares of the bank’s stock valued at $240,138,000 after purchasing an additional 1,176,612 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Credicorp by 2.0% in the 3rd quarter. State Street Corp now owns 1,123,023 shares of the bank’s stock worth $207,235,000 after buying an additional 21,943 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BAP. The Goldman Sachs Group raised their price target on Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Credicorp from $200.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Bank of America cut shares of Credicorp from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $209.00 to $208.00 in a research report on Monday.

Credicorp Trading Down 0.3 %

BAP opened at $180.17 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The firm has a market cap of $14.33 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 0.66 and a beta of 1.13. Credicorp Ltd. has a 12 month low of $144.22 and a 12 month high of $200.00. The stock has a fifty day moving average price of $188.45 and a 200-day moving average price of $176.02.

Credicorp Profile

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.