Insider Buying: Intercorp Financial Services Inc. (NYSE:IFS) Major Shareholder Acquires 437,369 Shares of Stock

Intercorp Financial Services Inc. (NYSE:IFS) major shareholder Peru Ltd Intercorp purchased 437,369 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average cost of $19.60 per share, for a total transaction of $8,572,432.40. Following the acquisition, the insider now directly owns 1,253,535 shares in the company, valued at approximately $24,569,286. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intercorp Financial Services Stock Down 0.4 %

NYSE:IFS opened at $23.80 on Friday. The firm’s 50 day moving average is $26.06 and its 200 day moving average is $22.56. Intercorp Financial Services Inc. has a 12 month low of $17.94 and a 12 month high of $30.59.

Intercorp Financial Services (NYSE:IFS) last posted its quarterly earnings results on Monday, February 12th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.40. The company had revenue of $426.13 million for the quarter, compared to analysts’ expectations of $430.96 million. Intercorp Financial Services had a net margin of 17.52% and a return on equity of 11.20%. As a group, equities research analysts anticipate that Intercorp Financial Services Inc. will post 3.38 earnings per share for the current year.

Institutional Investors Weigh In On Intercorp Financial Services

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in Intercorp Financial Services by 11.0% during the 3rd quarter. FMR LLC now owns 2,953,858 shares of the company’s stock valued at $66,521,000 after acquiring an additional 293,910 shares during the period. Citigroup Inc. bought a new stake in Intercorp Financial Services during the 3rd quarter valued at $848,000. Helikon Investments Ltd raised its holdings in Intercorp Financial Services by 119.9% during the 3rd quarter. Helikon Investments Ltd now owns 101,888 shares of the company’s stock valued at $2,295,000 after acquiring an additional 55,550 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Intercorp Financial Services during the 2nd quarter valued at $530,000. Finally, Schroder Investment Management Group raised its holdings in Intercorp Financial Services by 3.7% during the 3rd quarter. Schroder Investment Management Group now owns 720,754 shares of the company’s stock valued at $16,231,000 after acquiring an additional 25,601 shares during the period.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lowered their price target on shares of Intercorp Financial Services from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Tuesday, January 9th.

About Intercorp Financial Services

Intercorp Financial Services Inc provides 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.