Insider Buying: Intercorp Financial Services Inc. (NYSE:IFS) Major Shareholder Buys $11,360,865.09 in Stock

Intercorp Financial Services Inc. (NYSE:IFS) major shareholder Peru Ltd Intercorp bought 574,071 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $19.79 per share, for a total transaction of $11,360,865.09. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares 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 shares were purchased at an average price of $19.71 per share, for a total transaction of $265,000.95.

Intercorp Financial Services Stock Performance

Shares of NYSE IFS opened at $29.08 on Monday. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.41 and a beta of 1.29. Intercorp Financial Services Inc. has a 12 month low of $20.56 and a 12 month high of $30.59. The company has a 50 day simple moving average of $28.15 and a two-hundred day simple moving average of $25.47. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.56.

Analyst Upgrades and Downgrades

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 note on Thursday, September 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its position in Intercorp Financial Services by 44.9% during the 2nd quarter. Acadian Asset Management LLC now owns 21,952 shares of the company’s stock worth $490,000 after purchasing an additional 6,807 shares during the period. Marshall Wace LLP grew its holdings in Intercorp Financial Services by 544.1% during the second quarter. Marshall Wace LLP now owns 84,377 shares of the company’s stock worth $1,891,000 after acquiring an additional 71,277 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Intercorp Financial Services during the second quarter valued at approximately $387,000. Semanteon Capital Management LP acquired a new position in Intercorp Financial Services in the third quarter valued at approximately $222,000. Finally, Helikon Investments Ltd boosted its position in Intercorp Financial Services by 24.8% in the 3rd 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 in the last quarter.

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.