Acadian Asset Management LLC Acquires 418,351 Shares of Intercorp Financial Services Inc. $IFS

Key Points

• Acadian Asset Management LLC boosted its stake in Intercorp Financial Services Inc. by 93.9%, acquiring a total of 864,090 shares valued at approximately $28.6 million.
• Other hedge funds have also increased their positions, with Millennium Management LLC raising its stake by 2,109.3% during the fourth quarter.
• Intercorp Financial Services has received multiple upgrades from analysts, with a consensus rating of "Strong Buy" and a target price of $30.00.

Acadian Asset Management LLC boosted its holdings in Intercorp Financial Services Inc. (NYSE:IFS - Free Report) by 93.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 864,090 shares of the company's stock after purchasing an additional 418,351 shares during the period. Acadian Asset Management LLC owned approximately 0.76% of Intercorp Financial Services worth $28,593,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in Intercorp Financial Services in the first quarter worth $287,000. Goldman Sachs Group Inc. lifted its stake in Intercorp Financial Services by 332.5% in the first quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company's stock worth $2,119,000 after purchasing an additional 49,173 shares during the last quarter. Ariel Investments LLC lifted its stake in Intercorp Financial Services by 103.6% in the first quarter. Ariel Investments LLC now owns 18,521 shares of the company's stock worth $614,000 after purchasing an additional 9,426 shares during the last quarter. PDT Partners LLC lifted its stake in Intercorp Financial Services by 114.6% in the first quarter. PDT Partners LLC now owns 52,608 shares of the company's stock worth $1,743,000 after purchasing an additional 28,097 shares during the last quarter. Finally, Maverick Capital Ltd. bought a new stake in Intercorp Financial Services in the first quarter worth $510,000.

Insider Transactions at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp purchased 17,803 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was bought at an average cost of $19.66 per share, with a total value of $350,006.98. Following the completion of the purchase, the insider directly owned 2,946,766 shares in the company, valued at approximately $57,933,419.56. This represents a 0.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several analysts have weighed in on IFS shares. Wall Street Zen raised shares of Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. Zacks Research raised shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Strong Buy".

Intercorp Financial Services Trading Down 0.0%

IFS stock traded down $0.01 during trading on Friday, reaching $41.96. The company had a trading volume of 178,285 shares, compared to its average volume of 144,960. Intercorp Financial Services Inc. has a 52 week low of $24.23 and a 52 week high of $42.21. The company has a market cap of $4.80 billion, a P/E ratio of 9.32, a PEG ratio of 0.37 and a beta of 1.16. The business has a 50 day moving average of $38.24 and a 200 day moving average of $35.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.12.

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.