JPMorgan Chase & Co. Buys 107,290 Shares of Intercorp Financial Services Inc. $IFS

JPMorgan Chase & Co. raised its position in Intercorp Financial Services Inc. (NYSE:IFS) by 22.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 589,019 shares of the company’s stock after buying an additional 107,290 shares during the period. JPMorgan Chase & Co. owned about 0.51% of Intercorp Financial Services worth $23,761,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in IFS. Goldman Sachs Group Inc. lifted its stake in shares of Intercorp Financial Services by 332.5% during the first quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company’s stock valued at $2,119,000 after acquiring an additional 49,173 shares during the period. Jane Street Group LLC acquired a new position in Intercorp Financial Services during the 1st quarter valued at about $287,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Intercorp Financial Services by 100.2% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 42,764 shares of the company’s stock valued at $1,631,000 after purchasing an additional 21,400 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Intercorp Financial Services in the 2nd quarter valued at about $1,432,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Intercorp Financial Services during the 2nd quarter worth approximately $516,000.

Intercorp Financial Services Stock Performance

Shares of Intercorp Financial Services stock opened at $48.40 on Monday. Intercorp Financial Services Inc. has a 52-week low of $29.09 and a 52-week high of $52.58. The business’s 50 day simple moving average is $46.83 and its 200 day simple moving average is $42.82. The firm has a market cap of $5.54 billion, a PE ratio of 10.04, a P/E/G ratio of 0.39 and a beta of 0.83.

Analyst Upgrades and Downgrades

IFS has been the topic of several analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Intercorp Financial Services in a report on Monday, December 29th. Wall Street Zen upgraded shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Intercorp Financial Services from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercorp Financial Services presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Intercorp Financial Services Company Profile

Intercorp Financial Services (NYSE:IFS) is a Lima-based financial holding company that brings together a suite of banking and non-banking financial businesses under the Intercorp Group umbrella. Through its network of subsidiaries, the company provides a broad range of products and services designed to meet the needs of individual consumers, small and medium-sized enterprises, and large corporations across Peru.

The company’s core banking operations are conducted through Interbank, which offers deposit accounts, personal and business loans, credit and debit cards, trade finance and electronic banking solutions.