Intercorp Financial Services (NYSE:IFS) Sees Large Volume Increase – Here’s Why

Intercorp Financial Services Inc. (NYSE:IFS) shares saw strong trading volume on Friday . 409,002 shares changed hands during mid-day trading, an increase of 63% from the previous session’s volume of 251,096 shares.The stock last traded at $29.12 and had previously closed at $29.21.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. decreased their price objective on Intercorp Financial Services from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th.

Intercorp Financial Services Stock Down 1.1 %

The firm has a fifty day simple moving average of $28.38 and a 200 day simple moving average of $25.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $3.34 billion, a PE ratio of 11.33, a PEG ratio of 0.41 and a beta of 1.29.

Insider Activity at Intercorp Financial Services

In other news, major shareholder Peru Ltd Intercorp bought 574,071 shares of Intercorp Financial Services stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average price of $19.79 per share, for a total transaction of $11,360,865.09. Following the completion of the acquisition, the insider now owns 2,470,230 shares of the company’s stock, valued at $48,885,851.70. The trade was a 30.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Intercorp Financial Services

A number of large investors have recently modified their holdings of IFS. Acadian Asset Management LLC lifted its position in Intercorp Financial Services by 44.9% during the second quarter. Acadian Asset Management LLC now owns 21,952 shares of the company’s stock valued at $490,000 after buying an additional 6,807 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Intercorp Financial Services by 544.1% in the 2nd quarter. Marshall Wace LLP now owns 84,377 shares of the company’s stock valued at $1,891,000 after acquiring an additional 71,277 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Intercorp Financial Services during the 2nd quarter valued at $387,000. Semanteon Capital Management LP purchased a new stake in Intercorp Financial Services during the 3rd quarter worth $222,000. Finally, Helikon Investments Ltd increased its holdings in Intercorp Financial Services by 24.8% in the 3rd quarter. Helikon Investments Ltd now owns 974,819 shares of the company’s stock valued at $25,472,000 after purchasing an additional 193,474 shares in the last quarter.

About Intercorp Financial Services

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.