Principal Financial Group Inc. Buys 180,043 Shares of Intercorp Financial Services Inc. (NYSE:IFS)

Principal Financial Group Inc. raised its stake in shares of Intercorp Financial Services Inc. (NYSE:IFS) by 351.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 231,269 shares of the company’s stock after purchasing an additional 180,043 shares during the quarter. Principal Financial Group Inc.’s holdings in Intercorp Financial Services were worth $6,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of IFS. Helikon Investments Ltd grew its stake 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 buying an additional 193,474 shares during the last quarter. Citigroup Inc. increased its stake in shares of Intercorp Financial Services by 466.7% in the third quarter. Citigroup Inc. now owns 213,392 shares of the company’s stock worth $5,591,000 after purchasing an additional 175,734 shares during the period. Marshall Wace LLP lifted its position in shares of Intercorp Financial Services by 544.1% during the 2nd quarter. Marshall Wace LLP now owns 84,377 shares of the company’s stock worth $1,891,000 after purchasing an additional 71,277 shares during the last quarter. Mirabella Financial Services LLP bought a new stake in Intercorp Financial Services during the 3rd quarter valued at approximately $468,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Intercorp Financial Services in the 2nd quarter valued at approximately $387,000.

Analyst Ratings Changes

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 research report on Thursday, September 12th.

Intercorp Financial Services Price Performance

Shares of IFS stock opened at $29.34 on Thursday. Intercorp Financial Services Inc. has a 12 month low of $20.56 and a 12 month high of $30.59. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $28.29 and a two-hundred day moving average of $25.59. The company has a market capitalization of $3.39 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.41 and a beta of 1.29.

Insider Buying and Selling

In other news, major shareholder Peru Ltd Intercorp bought 574,071 shares of the stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $19.79 per share, with a total value of $11,360,865.09. Following the acquisition, the insider now owns 2,470,230 shares in the company, valued at $48,885,851.70. This trade represents a 30.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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.