Insider Buying: Intercorp Financial Services Inc. (NYSE:IFS) Major Shareholder Acquires $8,572,432.40 in Stock

Intercorp Financial Services Inc. (NYSE:IFS) major shareholder Peru Ltd Intercorp bought 437,369 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average cost of $19.60 per share, for a total transaction of $8,572,432.40. Following the purchase, the insider now directly owns 1,253,535 shares in the company, valued at $24,569,286. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Intercorp Financial Services Trading Down 0.4 %

Shares of IFS stock opened at $23.80 on Friday. Intercorp Financial Services Inc. has a 1 year low of $17.94 and a 1 year high of $30.59. The business’s fifty day moving average is $26.06 and its 200-day moving average is $22.56.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Intercorp Financial Services

Several hedge funds have recently modified their holdings of the company. FMR LLC grew its holdings in shares of Intercorp Financial Services by 11.0% in the 3rd quarter. FMR LLC now owns 2,953,858 shares of the company’s stock worth $66,521,000 after acquiring an additional 293,910 shares during the last quarter. Citigroup Inc. bought a new stake in shares of Intercorp Financial Services in the third quarter valued at approximately $848,000. Helikon Investments Ltd grew its position in Intercorp Financial Services by 119.9% during the third quarter. Helikon Investments Ltd now owns 101,888 shares of the company’s stock worth $2,295,000 after buying an additional 55,550 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Intercorp Financial Services in the 2nd quarter worth approximately $530,000. Finally, Schroder Investment Management Group lifted its position in shares of Intercorp Financial Services by 3.7% in the 3rd quarter. Schroder Investment Management Group now owns 720,754 shares of the company’s stock worth $16,231,000 after acquiring an additional 25,601 shares during the period.

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.