Intercorp Financial Services (NYSE:IFS) Sets New 52-Week High Following Insider Buying Activity

Shares of Intercorp Financial Services Inc. (NYSE:IFS) reached a new 52-week high on Thursday after an insider bought additional shares in the company. The stock traded as high as $37.47 and last traded at $37.45, with a volume of 102611 shares changing hands. The stock had previously closed at $36.19.

Specifically, major shareholder Peru Ltd Intercorp purchased 12,729 shares of the stock in a transaction on Tuesday, June 24th. The shares were bought at an average cost of $19.64 per share, with a total value of $249,997.56. Following the completion of the acquisition, the insider now owns 2,928,964 shares in the company, valued at $57,524,852.96. This trade represents a 0.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Intercorp Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 8th.

Intercorp Financial Services Stock Up 4.5%

The business’s fifty day simple moving average is $34.99 and its two-hundred day simple moving average is $32.33. The company has a market cap of $4.33 billion, a PE ratio of 10.08, a PEG ratio of 0.34 and a beta of 1.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.12 and a quick ratio of 1.12.

Intercorp Financial Services (NYSE:IFS) last announced its earnings results on Thursday, May 8th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.17. Intercorp Financial Services had a return on equity of 15.04% and a net margin of 24.51%. The business had revenue of $382.57 million during the quarter, compared to the consensus estimate of $1.35 billion. On average, analysts predict that Intercorp Financial Services Inc. will post 4.23 earnings per share for the current year.

Intercorp Financial Services Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, May 5th. Shareholders of record on Thursday, April 24th were given a dividend of $1.00 per share. This represents a yield of 3%. The ex-dividend date of this dividend was Wednesday, April 23rd. Intercorp Financial Services’s dividend payout ratio is presently 25.33%.

Hedge Funds Weigh In On Intercorp Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Employees Retirement System of Texas purchased a new stake in shares of Intercorp Financial Services during the fourth quarter worth about $1,549,000. FNY Investment Advisers LLC acquired a new stake in Intercorp Financial Services in the 1st quarter worth about $182,000. Sei Investments Co. purchased a new stake in Intercorp Financial Services during the 4th quarter worth approximately $212,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Intercorp Financial Services during the 4th quarter worth approximately $238,000. Finally, Jane Street Group LLC acquired a new position in shares of Intercorp Financial Services during the first quarter valued at approximately $287,000.

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.