Allianz Asset Management GmbH Acquires New Position in Intercorp Financial Services Inc. $IFS

Key Points

• Allianz Asset Management acquired 91,376 shares of Intercorp Financial Services in the second quarter, worth approximately $5.2 million and representing about 0.08% of the company.
• Intercorp Financial Services exceeded quarterly expectations, reporting $1.53 in EPS versus the $1.45 consensus and revenue of $554.15 million versus estimates of $520.46 million.
• IFS shares opened at $54.77, while analysts maintained a consensus “Buy” rating and an average price target of $62.00.

Allianz Asset Management GmbH acquired a new position in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 91,376 shares of the company's stock, valued at approximately $5,205,000. Allianz Asset Management GmbH owned approximately 0.08% of Intercorp Financial Services at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IFS. Caitong International Asset Management Co. Ltd increased its stake in Intercorp Financial Services by 106.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company's stock valued at $32,000 after purchasing an additional 384 shares in the last quarter. DGS Capital Management LLC purchased a new stake in Intercorp Financial Services during the first quarter worth $213,000. BTG Pactual Asset Management US LLC purchased a new stake in Intercorp Financial Services during the second quarter worth $250,000. Pinnacle Associates Ltd. acquired a new stake in Intercorp Financial Services in the third quarter valued at $275,000. Finally, Jane Street Group LLC acquired a new stake in Intercorp Financial Services in the first quarter valued at $287,000.

Intercorp Financial Services Price Performance

Shares of NYSE:IFS opened at $54.77 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.08 and a current ratio of 1.10. The business's fifty day moving average price is $57.25 and its two-hundred day moving average price is $51.99. The stock has a market cap of $6.08 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78. Intercorp Financial Services Inc. has a one year low of $38.29 and a one year high of $61.38.

Intercorp Financial Services (NYSE:IFS - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.08. The company had revenue of $554.15 million during the quarter, compared to analysts' expectations of $520.46 million. Intercorp Financial Services had a return on equity of 17.06% and a net margin of 34.81%. On average, analysts forecast that Intercorp Financial Services Inc. will post 6.11 EPS for the current fiscal year.

Analysts Set New Price Targets

IFS has been the subject of several research reports. Zacks Research raised Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. increased their price objective on shares of Intercorp Financial Services from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, August 27th. Weiss Ratings restated a "buy (b)" rating on shares of Intercorp Financial Services in a report on Wednesday, August 19th. Finally, Wall Street Zen cut shares of Intercorp Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Intercorp Financial Services presently has a consensus rating of "Buy" and an average price target of $62.00.

About Intercorp Financial Services

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.

Want to see what other hedge funds are holding IFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercorp Financial Services Inc. (NYSE:IFS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.