Acadian Asset Management LLC Has $28.59 Million Position in 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 lifted its holdings in Intercorp Financial Services Inc. (NYSE:IFS - Free Report) by 93.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 864,090 shares of the company's stock after buying an additional 418,351 shares during the period. Acadian Asset Management LLC owned about 0.76% of Intercorp Financial Services worth $28,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IFS. Employees Retirement System of Texas acquired a new stake in shares of Intercorp Financial Services in the fourth quarter worth $155,000. FNY Investment Advisers LLC purchased a new stake in shares of Intercorp Financial Services in the 1st quarter valued at approximately $182,000. Jane Street Group LLC acquired a new position in shares of Intercorp Financial Services in the first quarter valued at approximately $287,000. Mackenzie Financial Corp acquired a new position in Intercorp Financial Services during the 1st quarter worth approximately $303,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Intercorp Financial Services in the 4th quarter valued at $305,000.

Intercorp Financial Services Trading Down 0.3%

NYSE IFS traded down $0.13 on Tuesday, hitting $41.54. 90,998 shares of the company were exchanged, compared to its average volume of 205,699. The company's 50 day moving average price is $38.33 and its 200-day moving average price is $35.58. Intercorp Financial Services Inc. has a twelve month low of $24.23 and a twelve month high of $42.21. The firm has a market capitalization of $4.75 billion, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 0.37 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.12.

Insider Buying and Selling at Intercorp Financial Services

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IFS. Zacks Research upgraded shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. Wall Street Zen upgraded shares of Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Strong Buy".

Intercorp Financial Services Profile

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.