Insider Buying: Intercorp Financial Services Inc. (NYSE:IFS) Major Shareholder Buys $6,730,169.18 in Stock

Intercorp Financial Services Inc. (NYSE:IFS) major shareholder Peru Ltd Intercorp purchased 342,154 shares of the stock in a transaction on Thursday, June 27th. The shares were bought at an average cost of $19.67 per share, for a total transaction of $6,730,169.18. Following the transaction, the insider now directly owns 1,595,688 shares in the company, valued at $31,387,182.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Intercorp Financial Services Stock Performance

Intercorp Financial Services stock opened at $22.41 on Monday. The stock has a 50-day simple moving average of $22.43 and a 200 day simple moving average of $23.64. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.54. Intercorp Financial Services Inc. has a 52 week low of $17.94 and a 52 week high of $30.59.

Intercorp Financial Services (NYSE:IFS) last issued its earnings results on Monday, May 13th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.21). Intercorp Financial Services had a return on equity of 9.61% and a net margin of 15.76%. The business had revenue of $357.25 million for the quarter, compared to the consensus estimate of $434.62 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, sell-side analysts forecast that Intercorp Financial Services Inc. will post 3.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their target price on shares of Intercorp Financial Services from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th.

Hedge Funds Weigh In On Intercorp Financial Services

Large investors have recently modified their holdings of the stock. FMR LLC grew its stake in Intercorp Financial Services by 11.0% in the 3rd quarter. FMR LLC now owns 2,953,858 shares of the company’s stock valued at $66,521,000 after buying an additional 293,910 shares during the last quarter. Dodge & Cox bought a new position in shares of Intercorp Financial Services during the fourth quarter worth approximately $593,000. Citigroup Inc. bought a new position in shares of Intercorp Financial Services during the third quarter worth approximately $848,000. Helikon Investments Ltd boosted its stake in Intercorp Financial Services by 195.7% in the 4th quarter. Helikon Investments Ltd now owns 301,247 shares of the company’s stock valued at $6,612,000 after purchasing an additional 199,359 shares during the period. Finally, Schroder Investment Management Group grew its holdings in Intercorp Financial Services by 3.7% in the 3rd quarter. Schroder Investment Management Group now owns 720,754 shares of the company’s stock valued at $16,231,000 after buying an additional 25,601 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.