Intercorp Financial Services (NYSE:IFS) Sees Large Volume Increase – What’s Next?

Intercorp Financial Services Inc. (NYSE:IFS) shares saw unusually-high trading volume on Friday . Approximately 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.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their price objective on shares of 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 Trading Down 1.1 %

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 business has a 50 day simple moving average of $28.38 and a two-hundred day simple moving average of $25.68. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 0.41 and a beta of 1.29.

Insider Transactions at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp bought 574,071 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $19.79 per share, for a total transaction of $11,360,865.09. Following the purchase, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Intercorp Financial Services

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake 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 increased its holdings 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 last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Intercorp Financial Services during the 2nd quarter valued at approximately $387,000. Semanteon Capital Management LP bought a new position in Intercorp Financial Services during the third quarter worth $222,000. Finally, Helikon Investments Ltd boosted its holdings in Intercorp Financial Services by 24.8% in the third quarter. Helikon Investments Ltd now owns 974,819 shares of the company’s stock worth $25,472,000 after purchasing an additional 193,474 shares during the period.

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.