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

Intercorp Financial Services Inc. (NYSE:IFS) major shareholder Peru Ltd Intercorp purchased 574,071 shares of the stock in a transaction dated 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 acquisition, the insider now owns 2,470,230 shares of the company’s stock, valued at approximately $48,885,851.70. This represents a 30.28 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 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 bought 13,445 shares of Intercorp Financial Services stock. The shares were purchased at an average cost of $19.71 per share, for a total transaction of $265,000.95.

Intercorp Financial Services Price Performance

Shares of NYSE IFS opened at $29.08 on Friday. The firm has a market capitalization of $3.36 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.41 and a beta of 1.29. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. The stock’s 50-day simple moving average is $28.15 and its two-hundred day simple moving average is $25.44. Intercorp Financial Services Inc. has a twelve month low of $20.56 and a twelve month high of $30.59.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their price target 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.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IFS. Semanteon Capital Management LP bought a new stake in Intercorp Financial Services during the third quarter valued at approximately $222,000. PDT Partners LLC purchased a new stake in shares of Intercorp Financial Services during the 3rd quarter valued at $237,000. XTX Topco Ltd bought a new stake in shares of Intercorp Financial Services during the 3rd quarter worth $288,000. Cubist Systematic Strategies LLC purchased a new position in shares of Intercorp Financial Services in the second quarter worth $387,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Intercorp Financial Services during the 3rd quarter valued at $423,000.

Intercorp Financial Services Company Profile

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.