Intercorp Financial Services (NYSE:IFS) Hits New 52-Week High – Here’s Why

Intercorp Financial Services Inc. (NYSE:IFS) shares hit a new 52-week high on Monday . The stock traded as high as $36.00 and last traded at $35.00, with a volume of 350647 shares changing hands. The stock had previously closed at $34.54.

Intercorp Financial Services Stock Up 0.0%

The company has a market capitalization of $3.93 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 0.32 and a beta of 1.17. The stock’s fifty day moving average price is $32.54 and its two-hundred day moving average price is $30.51.

Intercorp Financial Services (NYSE:IFS) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.17. The company had revenue of $382.57 million for the quarter, compared to the consensus estimate of $1.35 billion. Intercorp Financial Services had a return on equity of 12.38% and a net margin of 21.03%. On average, equities research analysts forecast that Intercorp Financial Services Inc. will post 4.23 EPS for the current year.

Intercorp Financial Services Dividend Announcement

The company also recently declared an annual dividend, which was paid on Monday, May 5th. Stockholders of record on Thursday, April 24th were issued a dividend of $1.00 per share. This represents a dividend yield of 3%. The ex-dividend date was Wednesday, April 23rd. Intercorp Financial Services’s payout ratio is 31.46%.

Insider Activity at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp bought 320,237 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was acquired at an average cost of $19.59 per share, for a total transaction of $6,273,442.83. Following the purchase, the insider now owns 2,909,571 shares in the company, valued at approximately $56,998,495.89. This represents a 12.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of Intercorp Financial Services

Several large investors have recently modified their holdings of the company. Millennium Management LLC grew its stake in shares of Intercorp Financial Services by 2,109.3% during the 4th quarter. Millennium Management LLC now owns 556,972 shares of the company’s stock valued at $16,342,000 after purchasing an additional 531,762 shares during the period. Principal Financial Group Inc. increased its holdings in Intercorp Financial Services by 4.0% during the first quarter. Principal Financial Group Inc. now owns 396,356 shares of the company’s stock valued at $13,131,000 after buying an additional 15,087 shares during the last quarter. Sagil Capital LLP bought a new position in Intercorp Financial Services in the fourth quarter worth approximately $9,064,000. Lord Abbett & CO. LLC boosted its stake in shares of Intercorp Financial Services by 39.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 280,131 shares of the company’s stock worth $8,219,000 after acquiring an additional 78,822 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Intercorp Financial Services by 20.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 274,868 shares of the company’s stock worth $8,065,000 after purchasing an additional 47,295 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.