Intercorp Financial Services Inc. (NYSE:IFS) Major Shareholder Peru Ltd Intercorp Acquires 247,311 Shares of Stock

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

Intercorp Financial Services Price Performance

NYSE IFS opened at $26.17 on Tuesday. The business’s fifty day moving average is $23.90 and its 200 day moving average is $23.34. Intercorp Financial Services Inc. has a fifty-two week low of $17.94 and a fifty-two week high of $30.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.10. The company has a market capitalization of $3.02 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.30 and a beta of 1.32.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Intercorp Financial Services

Hedge funds have recently modified their holdings of the stock. Dodge & Cox purchased a new position in Intercorp Financial Services during the fourth quarter valued at $593,000. Lord Abbett & CO. LLC boosted its holdings in shares of Intercorp Financial Services by 1.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 187,719 shares of the company’s stock valued at $4,470,000 after purchasing an additional 2,329 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Intercorp Financial Services in the first quarter worth about $559,000. Acadian Asset Management LLC lifted its position 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 in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Intercorp Financial Services during the first quarter valued at approximately $31,000.

Intercorp Financial Services Company Profile

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.