Insider Buying: Intercorp Financial Services Inc. (NYSE:IFS) Major Shareholder Purchases 574,071 Shares of Stock

Intercorp Financial Services Inc. (NYSE:IFS) major shareholder Peru Ltd Intercorp bought 574,071 shares of the stock in a transaction on Thursday, December 26th. The shares were bought at an average price of $19.79 per share, for a total transaction of $11,360,865.09. Following the purchase, the insider now directly owns 2,470,230 shares in the company, valued at approximately $48,885,851.70. This trade represents a 30.28 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Peru Ltd Intercorp also recently made the following trade(s):

• On Monday, December 2nd, Peru Ltd Intercorp purchased 13,445 shares of Intercorp Financial Services stock. The stock was bought at an average price of $19.71 per share, with a total value of $265,000.95.

Intercorp Financial Services Stock Performance

IFS stock traded down $0.09 during trading on Friday, reaching $29.08. The stock had a trading volume of 49,712 shares, compared to its average volume of 112,510. The firm has a market cap of $3.36 billion, a PE ratio of 11.40, a PEG ratio of 0.41 and a beta of 1.29. 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’s 50 day moving average is $28.12 and its two-hundred day moving average is $25.38. Intercorp Financial Services Inc. has a 52 week low of $20.56 and a 52 week high of $30.59.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut 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 research report on Thursday, September 12th.

Hedge Funds Weigh In On Intercorp Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in Intercorp Financial Services by 351.5% during the third quarter. Principal Financial Group Inc. now owns 231,269 shares of the company’s stock valued at $6,043,000 after buying an additional 180,043 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Intercorp Financial Services by 6.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 201,309 shares of the company’s stock worth $5,260,000 after purchasing an additional 11,612 shares in the last quarter. Geode Capital Management LLC raised its holdings in Intercorp Financial Services by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 16,799 shares of the company’s stock worth $439,000 after purchasing an additional 401 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Intercorp Financial Services during the third quarter valued at $423,000. Finally, XTX Topco Ltd bought a new stake in Intercorp Financial Services during the third quarter valued at about $288,000.

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.