Insider Buying: Intercorp Financial Services Inc. (NYSE:IFS) Major Shareholder Buys 247,311 Shares of Stock

Intercorp Financial Services Inc. (NYSE:IFS) major shareholder Peru Ltd Intercorp purchased 247,311 shares of the business’s stock in a transaction on Friday, September 27th. The stock was acquired at an average price of $19.65 per share, with a total value of $4,859,661.15. Following the purchase, the insider now directly owns 1,842,999 shares in the company, valued at approximately $36,214,930.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intercorp Financial Services Stock Performance

Shares of NYSE IFS opened at $26.20 on Wednesday. The company has a market cap of $3.02 billion, a P/E ratio of 11.80, a P/E/G ratio of 0.30 and a beta of 1.32. Intercorp Financial Services Inc. has a 52-week low of $17.94 and a 52-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 firm’s fifty day moving average is $23.96 and its two-hundred day moving average is $23.33.

Intercorp Financial Services (NYSE:IFS) last issued its earnings results on Wednesday, August 14th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $414.92 million for the quarter, compared to analysts’ expectations of $423.35 million. As a group, analysts anticipate that Intercorp Financial Services Inc. will post 3.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered their price target 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.

Institutional Trading of Intercorp Financial Services

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Intercorp Financial Services in the first quarter valued at $31,000. Acadian Asset Management LLC lifted its position in Intercorp Financial Services by 487.0% during the first quarter. Acadian Asset Management LLC now owns 15,145 shares of the company’s stock valued at $357,000 after purchasing an additional 12,565 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Intercorp Financial Services during the second quarter valued at $387,000. Virtu Financial LLC purchased a new position in shares of Intercorp Financial Services in the 1st quarter worth $458,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Intercorp Financial Services in the 1st quarter worth about $559,000.

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.