Intercorp Financial Services (NYSE:IFS) Hits New 1-Year High on Insider Buying Activity

Intercorp Financial Services Inc. (NYSE:IFS) shares hit a new 52-week high on Thursday after an insider bought additional shares in the company. The company traded as high as $37.47 and last traded at $37.45, with a volume of 102611 shares trading hands. The stock had previously closed at $36.19.

Specifically, major shareholder Peru Ltd Intercorp acquired 12,729 shares of the company’s stock in a transaction that occurred on Tuesday, June 24th. The shares were acquired at an average price of $19.64 per share, with a total value of $249,997.56. Following the acquisition, the insider now directly owns 2,928,964 shares in the company, valued at approximately $57,524,852.96. The trade was a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Intercorp Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 8th.

Intercorp Financial Services Stock Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.36 and a beta of 1.15. The firm’s fifty day moving average is $35.12 and its 200 day moving average is $32.39.

Intercorp Financial Services (NYSE:IFS) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. Intercorp Financial Services had a net margin of 24.51% and a return on equity of 15.04%. The business had revenue of $382.57 million during the quarter, compared to analysts’ expectations of $1.35 billion. On average, analysts predict that Intercorp Financial Services Inc. will post 4.23 EPS for the current fiscal year.

Intercorp Financial Services Announces Dividend

The business also recently announced an annual dividend, which was paid on Monday, May 5th. Investors of record on Thursday, April 24th were given a dividend of $1.00 per share. This represents a yield of 3%. The ex-dividend date of this dividend was Wednesday, April 23rd. Intercorp Financial Services’s dividend payout ratio (DPR) is currently 25.33%.

Hedge Funds Weigh In On Intercorp Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Helikon Investments Ltd increased its holdings in Intercorp Financial Services by 21.9% in the 1st quarter. Helikon Investments Ltd now owns 1,188,211 shares of the company’s stock valued at $39,365,000 after buying an additional 213,392 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Intercorp Financial Services by 93.9% in the 1st quarter. Acadian Asset Management LLC now owns 864,090 shares of the company’s stock worth $28,593,000 after purchasing an additional 418,351 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Intercorp Financial Services by 2,109.3% in the 4th quarter. Millennium Management LLC now owns 556,972 shares of the company’s stock worth $16,342,000 after purchasing an additional 531,762 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Intercorp Financial Services by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 396,356 shares of the company’s stock worth $13,131,000 after purchasing an additional 15,087 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Intercorp Financial Services by 15.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 323,666 shares of the company’s stock worth $10,723,000 after purchasing an additional 43,535 shares during 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.