Intercorp Financial Services Inc. (NYSE:IFS) Major Shareholder Acquires $4,859,661.15 in Stock

Intercorp Financial Services Inc. (NYSE:IFS) major shareholder Peru Ltd Intercorp acquired 247,311 shares of Intercorp Financial Services stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $19.65 per share, with a total value of $4,859,661.15. Following the completion of the acquisition, the insider now owns 1,842,999 shares of the company’s stock, valued at approximately $36,214,930.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intercorp Financial Services Price Performance

Shares of IFS stock traded down $0.31 on Monday, reaching $26.17. The company’s stock had a trading volume of 134,041 shares, compared to its average volume of 98,195. The company has a quick ratio of 1.12, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. Intercorp Financial Services Inc. has a 12-month low of $17.94 and a 12-month high of $30.59. The company has a market capitalization of $3.02 billion, a P/E ratio of 11.84, a PEG ratio of 0.30 and a beta of 1.32. The stock’s 50 day simple moving average is $23.83 and its 200-day simple moving average is $23.34.

Intercorp Financial Services (NYSE:IFS) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.09. Intercorp Financial Services had a return on equity of 8.97% and a net margin of 14.94%. The company had revenue of $414.92 million for the quarter, compared to the consensus estimate of $423.35 million. As a group, equities analysts predict that Intercorp Financial Services Inc. will post 3.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intercorp Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in IFS. Cubist Systematic Strategies LLC purchased a new stake in Intercorp Financial Services during the second quarter valued at about $387,000. Marshall Wace LLP increased its holdings in shares of Intercorp Financial Services by 544.1% in the second quarter. Marshall Wace LLP now owns 84,377 shares of the company’s stock worth $1,891,000 after buying an additional 71,277 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Intercorp Financial Services by 44.9% in the second quarter. Acadian Asset Management LLC now owns 21,952 shares of the company’s stock worth $490,000 after buying an additional 6,807 shares during the period. Helikon Investments Ltd increased its holdings in shares of Intercorp Financial Services by 208.5% in the second quarter. Helikon Investments Ltd now owns 781,345 shares of the company’s stock worth $17,510,000 after buying an additional 528,099 shares during the period. Finally, Virtu Financial LLC purchased a new position in Intercorp Financial Services during the 1st quarter valued at about $458,000.

Analyst Upgrades and Downgrades

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

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.