Intercorp Financial Services Inc. (NYSE:IFS) Major Shareholder Purchases $9,643,980.00 in Stock

Intercorp Financial Services Inc. (NYSE:IFS) major shareholder Peru Ltd Intercorp bought 482,199 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was bought at an average cost of $20.00 per share, with a total value of $9,643,980.00. Following the transaction, the insider now owns 494,699 shares in the company, valued at approximately $9,893,980. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Intercorp Financial Services Stock Performance

Shares of IFS stock opened at $18.70 on Friday. Intercorp Financial Services Inc. has a 1 year low of $18.12 and a 1 year high of $26.21. The firm has a fifty day moving average price of $21.23 and a 200-day moving average price of $22.74. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.14 and a quick ratio of 1.12.

Intercorp Financial Services (NYSE:IFS) last issued its earnings results on Thursday, August 10th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.17). The firm had revenue of $412.59 million during the quarter, compared to the consensus estimate of $438.10 million. Intercorp Financial Services had a return on equity of 16.94% and a net margin of 25.89%. As a group, sell-side analysts anticipate that Intercorp Financial Services Inc. will post 2.89 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Jefferies Financial Group began coverage on shares of Intercorp Financial Services in a research report on Monday, October 16th. They issued a “buy” rating and a $34.90 target price for the company.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Employees Retirement System of Texas boosted its holdings in Intercorp Financial Services by 116.9% in the 1st quarter. Employees Retirement System of Texas now owns 14,100 shares of the company’s stock worth $487,000 after buying an additional 7,600 shares during the period. Marshall Wace LLP boosted its holdings in Intercorp Financial Services by 109.9% in the 3rd quarter. Marshall Wace LLP now owns 21,096 shares of the company’s stock worth $422,000 after buying an additional 11,044 shares during the period. Northern Trust Corp bought a new position in Intercorp Financial Services in the 2nd quarter worth $307,000. Bank of New York Mellon Corp bought a new position in Intercorp Financial Services in the 1st quarter worth $225,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Intercorp Financial Services in the 3rd quarter worth $47,000.

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.