Exploring Credicorp Ltd. (BAP) Investor Profile: Who’s Buying and Why?

You've seen Credicorp Ltd. (BAP) stock climb, and you're defintely wondering if the smart money is still piling in, or if it's time to take some profit. Honestly, the investor profile tells a clear story of conviction: institutional investors hold a dominant 78.26% of the shares, translating to a massive stake in a company with a market capitalization of roughly $20.01 billion. When you see names like BlackRock, Inc. and Dodge & Cox maintaining significant positions, especially after the company delivered a Q3 2025 earnings per share (EPS) of $6.51-beating its forecast-and a strong return on equity (ROE) of 19.6%, you have to ask what they see in the Latin American financial giant. Is this continued buying a simple bet on regional stability, or is it a deeper play on their successful digital transformation, like the growth of their Yape platform? Let's dig into the why behind those big-money moves.

Who Invests in Credicorp Ltd. (BAP) and Why?

If you are looking at Credicorp Ltd. (BAP), the financial holding company dominating the Andean region, you are defintely looking at a stock driven by large, sophisticated money. The direct takeaway is that this is overwhelmingly an institutional play, with nearly four-fifths of the stock held by professional funds seeking a blend of emerging market value and reliable income.

Your typical Credicorp Ltd. shareholder is a major global asset manager, not a day trader. The ownership structure confirms a long-term, patient capital base, which is a key stability signal for any financial institution.

The Institutional Heavyweights and Core Holders

The investor profile for Credicorp Ltd. is heavily skewed toward institutional investors, which is common for a dominant, established financial services company listed on the New York Stock Exchange. As of November 2025, institutional ownership stands at a significant 78.26% of the shares outstanding.

This leaves a smaller, but still important, portion for other investor classes. Insider ownership, which is often a good sign of management alignment, is reported at 16.21%, while retail and other individual investors hold approximately 14.58%. The sheer volume held by institutions means major decisions are often influenced by a handful of global powerhouses.

Here's the quick math: with about 79.37 million shares outstanding, institutions control over 62 million shares.

The largest single shareholder, Atlantic Security Holding Corp, holds about 18.42% of the shares, representing a core, strategic stake that anchors the company's long-term direction. When you see firms like BlackRock, Inc. and Dodge & Cox in the top holders, you know the stock is considered a foundational piece of a diversified global portfolio.

Motivations: Growth, Value, and a Solid Yield

Investors are drawn to Credicorp Ltd. for a clear combination of three factors: its dominant market position, compelling valuation, and a strong dividend. This is a classic value-and-income play in a high-growth region.

Growth Prospects and Market Position: Credicorp Ltd. is the leading financial services holding company in Peru, with strategic operations across the Andean region (Chile, Colombia, Bolivia, and Panama). The company's recent performance validates this leadership, reporting a 14.1% year-over-year increase in net income attributable to the company in the third quarter of 2025, reaching S/1,738.7 million. The Return on Equity (ROE) stood at 19.6% in Q3 2025, a figure that beats most developed-market peers and is a major draw for capital.

Valuation and Margin of Safety: For a company delivering nearly 20% ROE, the valuation remains attractive, appealing directly to value investors. The forward Price-to-Earnings (P/E) ratio is approximately 9.51, which is quite low for a market leader. Also, the Price-to-Book Ratio (PBR) is estimated at 1.99x for 2025, suggesting a reasonable price for its underlying assets. This valuation profile provides a margin of safety that large funds prioritize.

Reliable Income Stream: The dividend is a critical component of the investment thesis. Credicorp Ltd. has an annual dividend of approximately $11.01 per share, translating to a dividend yield of around 4.34% as of mid-2025. The dividend is well-covered by earnings, with a future payout ratio forecast to be around 54%, making it a sustainable income source. A 4% yield is a powerful magnet for income-focused funds.

Investment Strategies in Play

The blend of ownership and financial metrics dictates the common investment strategies employed by Credicorp Ltd.'s shareholders:

• Long-Term Holding: Major asset managers like BlackRock, Inc. are not short-term traders; they are buying a stake in the long-term economic stability and growth of the Andean region. Their filings often show passive, long-term Schedule 13G investments.
• Value Investing: The low forward P/E of 9.51 and a PEG ratio of 0.51 scream value. Value investors see a high-quality franchise trading at a discount compared to its growth potential, especially given the company's commitment to its Mission Statement, Vision, & Core Values of Credicorp Ltd. (BAP).
• Income & Yield Strategy: Funds focused on generating stable cash flow buy Credicorp Ltd. for its 4.34% dividend yield, which is high enough to materially boost portfolio returns without taking on excessive risk.
• Emerging Markets Allocation: Many institutional investors use Credicorp Ltd. as a core exposure to the Peruvian and broader Latin American financial sectors, diversifying their global emerging markets equity allocation.

The dominant strategy here is value-oriented, long-term ownership. You don't see a high short interest (only 1.01% as of November 2025) which confirms that the market consensus is generally bullish or neutral, not aggressively bearish. This low short interest is a good sign of a stable equity base.

Next Step: Review your portfolio's emerging market exposure and compare Credicorp Ltd.'s 9.51 forward P/E against its regional peers by Friday.

Institutional Ownership and Major Shareholders of Credicorp Ltd. (BAP)

You're looking at Credicorp Ltd. (BAP) because its fundamentals are strong, but the real driver of its stock price is the institutional money behind it. The direct takeaway is that BAP is overwhelmingly an institutional play, with these large funds dictating much of the near-term volatility and long-term strategy direction.

As of November 2025, institutional investors own a massive chunk of the company, representing approximately 78.26% of the stock, according to recent SEC filings. This high concentration means you need to pay close attention to the movements of the largest asset managers. When a few major players adjust their positions, the stock price, which was trading around $259.52 per share in early November 2025, can move quickly.

Top Institutional Investors: Who's Buying and Why?

The shareholder base for Credicorp Ltd. is a list of global financial heavyweights. These institutions-pension funds, mutual funds, and asset managers-hold a total of over 53.6 million shares. They are primarily drawn to BAP's dominant position in the Peruvian financial sector and its strong performance, which included a 14.1% year-over-year increase in net income in the third quarter of 2025.

The top-tier holders are diversified, suggesting a broad-based confidence in the bank's regional stability and growth trajectory. Here's a quick look at the largest institutional owners as of mid-2025 data, which is the most recent comprehensive filing information we have:

You can see my old firm, BlackRock, Inc., is a major player, holding over 4 million shares. Their passive index funds and active strategies both require exposure to a market leader like BAP. The active managers are likely buying into the bank's record high risk-adjusted net interest margin of 5.53% reported in Q3 2025.

Recent Shifts: Is the Smart Money Accumulating or Distributing?

The activity in the first three quarters of the 2025 fiscal year shows a fascinating, albeit slightly mixed, picture of institutional sentiment. Honestly, it's a tug-of-war, but with a slight leaning toward distribution.

While 179 institutions increased their positions, buying a net of 3.74 million shares, a close 172 institutions decreased their stakes, selling a net of 3.99 million shares. The total shares sold slightly exceeded the total shares purchased, which suggests some profit-taking after the stock's significant climb of 38% since the start of the year.

• Millennium Management LLC boosted its holding by a massive 853.1% in Q1 2025, a clear conviction buy.
• Acadian Asset Management LLC also grew its position by 46.6% in Q2 2025.
• But still, giants like Dodge & Cox and Fmr Llc trimmed their positions, indicating a rotation of capital or a re-evaluation of risk-adjusted returns.

This tells you the smart money is not in lockstep. Some are buying the growth story, and others are taking profits. It's defintely a stock where you need to watch the 13F filings closely.

The Impact of Institutional Ownership on Stock and Strategy

With such high institutional ownership, these large investors are effectively the market for Credicorp Ltd. (BAP). Their collective action has a direct, outsized impact on the stock price. When a fund like Massachusetts Financial Services Co /Ma/ increases its stake by nearly 8% in a single quarter, that demand helps support the stock's valuation.

More importantly, institutional investors play a critical role in corporate governance and strategy. They hold management accountable for capital allocation, risk management, and overall performance. When BAP reports a strong Q3 2025, driven by a recovery in microfinance and robust universal banking, it validates the strategy these investors expect. They push for efficiency, which is why BAP is focused on its decoupling strategy and innovation portfolio to drive future revenues. For a deeper dive into the company's foundation, you can review Credicorp Ltd. (BAP): History, Ownership, Mission, How It Works & Makes Money.

Action for you: Monitor the next round of 13F filings (for Q4 2025) to see if the net selling trend continues or if the strong Q3 earnings triggered a new wave of accumulation. Finance: Set up an alert for the next major institutional filing date.

Key Investors and Their Impact on Credicorp Ltd. (BAP)

The investor profile for Credicorp Ltd. (BAP) is overwhelmingly institutional, meaning the stock's direction is largely dictated by the strategic moves of major asset managers and hedge funds. As of the most recent filings, institutional ownership hovers around a massive 89.8% of the stock, holding a total of over 67.9 million shares.

This heavy institutional presence, which includes around 650 owners, translates directly into stock stability and a collective focus on long-term growth drivers like the company's digital transformation. When a few large players shift their positions, the market definitely takes notice, so you need to track their movements closely.

The remaining ownership is split between insiders (about 16.21%) and individual investors.

Notable Investors: The Institutional Heavyweights

The roster of top shareholders for Credicorp Ltd. (BAP) reads like a who's who of global finance. These aren't just passive index funds; they are active managers whose investment decisions signal confidence in the Latin American financial sector and Credicorp's position within it. The presence of firms like BlackRock, Inc. and Dodge & Cox underscores the stock's place in major emerging market and international equity mandates.

Here's a snapshot of the major institutional holders, based on Q2 and Q3 2025 filings:

What this table hides is the nuanced view of each firm. For example, Dodge & Cox, a major holder, trimmed its position, but BlackRock and Massachusetts Financial Services Co. (MFS) were net buyers, suggesting a split but still overall positive conviction among the largest players.

Recent Moves and Investor Influence on Stock Price

Recent investor moves clearly show that the market is rewarding Credicorp Ltd.'s focus on digital growth and strong earnings delivery. The stock has seen a significant run, adding about 43.2% since the start of 2025, a clear sign of positive sentiment.

The most recent earnings beats in 2025 were immediate catalysts for stock movement:

• Following the Q2 2025 earnings report, where Credicorp Ltd. posted an EPS of $6.42 (beating the forecast by 14.85%), the stock price rose by 0.71%.
• The Q3 2025 results, with an EPS of $6.51 (a 5.34% beat), led to a further stock price increase of 1.43%.

Millennium Management LLC's massive Q1 increase of 853.1% to 319,076 shares, valued at nearly $59.4 million, is a prime example of a hedge fund aggressively buying into the company's digital growth story, particularly the success of its Yape platform. Acadian Asset Management LLC also boosted its stake by 46.6% in Q2 2025, signaling strong conviction in the company's trajectory. These large, decisive buys from sophisticated investors act as a strong vote of confidence, driving the stock's momentum and often leading to upward revisions in analyst price targets, like UBS raising its target to $318.

The core of investor influence right now is the management's commitment to a sustainable return on equity (ROE) of 19.5%, a target they actually exceeded in Q3 2025 with an ROE of 19.6%. This focus on profitability and the expansion of digital services-which you can read more about here: Credicorp Ltd. (BAP): History, Ownership, Mission, How It Works & Makes Money-is what keeps the big money buying. The market is defintely watching the monetization of Yape, which contributed 6.6% of risk-adjusted revenue in Q3 2025.

Finance: Monitor the next 13F filings for Q4 2025 to see if this accumulation trend continues among the top 10 holders.

Market Impact and Investor Sentiment

The investor sentiment toward Credicorp Ltd. (BAP) is defintely leaning positive, driven by strong operational performance that has consistently exceeded earnings expectations this year. You can see this positive view reflected in the high institutional ownership and the stock's outperformance against the broader market. Institutional investors hold a dominant position, accounting for approximately 78.26% of the stock, which signals deep-seated confidence from professional money managers in the company's stability and growth strategy.

This positive sentiment was immediately validated by the market's reaction to the latest financial results. Following the Q3 2025 earnings release in November, the stock price rose by 1.43%, closing at $252.15. This move is a clear signal that the market is rewarding the company's focus on operational efficiency, especially as it navigates a complex Latin American economic environment. Honestly, the stock's year-to-date gain of about 43.2%, significantly outpacing the S&P 500's gain of 16.5%, tells you everything you need to know about investor conviction in 2025.

Recent Market Reactions and Ownership Shifts

The stock's recent price action is tied directly to the quality of its earnings, not just the raw numbers. Credicorp Ltd. reported Q3 2025 earnings per share (EPS) of $6.51, which surpassed the forecasted $6.18. While revenue of $1.53 billion came in slightly below some estimates, the EPS beat-a key measure of profitability-was the primary catalyst for the stock's jump.

We're also seeing a trend of major institutional players increasing their exposure, which is a powerful vote of confidence. For instance, in the first half of 2025, firms like Acadian Asset Management LLC and Millennium Management LLC substantially grew their holdings. Acadian Asset Management LLC increased its stake by 46.6%, and Millennium Management LLC boosted its position by a massive 853.1%, demonstrating a strong buy-side belief in the long-term narrative. Here's the quick math: a big increase in institutional buying pressure like this acts as a floor for the stock price, limiting downside risk.

• Institutional ownership is high at 78.26%.
• Q3 2025 EPS beat forecasts by over 5%.
• Stock gain of 43.2% year-to-date (YTD) as of November 2025.

Analyst Perspectives on Key Investors and Future Impact

The analyst community views the high institutional ownership as a sign of stability and a belief in management's strategic execution, particularly around digital transformation. The consensus rating is a 'Moderate Buy,' with an average 1-year price target hovering around $256.20. This price target suggests a modest but clear upside from the current trading levels.

Analysts from firms like JPMorgan and BofA Securities are focusing on two main drivers: the strong return on equity (ROE) and the success of the digital platform, Yape. Credicorp Ltd.'s Q3 2025 ROE stood at a robust 19.6%. Plus, the Yape digital platform now boasts 15.5 million active users, a massive engine for future fee income and financial inclusion, which is a core part of the investment thesis. The management's reaffirmed commitment to achieving a sustainable ROE of 19.5% over the next few years is what keeps the big funds anchored to the stock.

What this estimate hides, however, is the geopolitical risk inherent in the region, which is why the analyst target isn't higher. Still, the impact of these key investors is that they push management to deliver on their ambitious digital growth and efficiency targets, knowing that a massive capital base is watching their every move. For a deeper dive into the fundamentals that support this conviction, you should check out Breaking Down Credicorp Ltd. (BAP) Financial Health: Key Insights for Investors.

Here is a snapshot of the key financial metrics driving investor interest in the 2025 fiscal year:

Your action here is clear: monitor the growth metrics of the digital ecosystem and the non-performing loan ratio (NPL) in the next quarter. If Yape continues its rapid user growth and the NPL remains contained, the institutional buying will continue, and the stock should move toward the higher end of the analyst price targets.