American Century Companies Inc. Increases Stock Position in Intercorp Financial Services Inc. $IFS

Key Points

• American Century Companies Inc. significantly increased its stake in Intercorp Financial Services by 262.6% in the first quarter, now holding a total of 179,306 shares worth approximately $5.94 million.
• Wall Street analysts have upgraded Intercorp Financial Services from a "buy" to a "strong-buy" rating, with a consensus price target of $30.00.
• Major shareholder Peru Ltd Intercorp recently acquired 17,803 shares at an average price of $19.66 per share, increasing their ownership stake in the company.

American Century Companies Inc. grew its position in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) by 262.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,306 shares of the company's stock after purchasing an additional 129,857 shares during the quarter. American Century Companies Inc. owned approximately 0.16% of Intercorp Financial Services worth $5,940,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Helikon Investments Ltd increased its holdings in shares of Intercorp Financial Services by 21.9% in the first quarter. Helikon Investments Ltd now owns 1,188,211 shares of the company's stock worth $39,365,000 after buying an additional 213,392 shares during the period. Millennium Management LLC increased its holdings in shares of Intercorp Financial Services by 2,109.3% in the fourth quarter. Millennium Management LLC now owns 556,972 shares of the company's stock worth $16,342,000 after buying an additional 531,762 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Intercorp Financial Services by 4.0% in the first quarter. Principal Financial Group Inc. now owns 396,356 shares of the company's stock worth $13,131,000 after buying an additional 15,087 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Intercorp Financial Services by 15.5% in the first quarter. Lord Abbett & CO. LLC now owns 323,666 shares of the company's stock worth $10,723,000 after buying an additional 43,535 shares during the period. Finally, Fourth Sail Capital LP purchased a new position in shares of Intercorp Financial Services in the first quarter worth about $8,543,000.

Insider Activity

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp bought 17,803 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was purchased at an average cost of $19.66 per share, for a total transaction of $350,006.98. Following the completion of the acquisition, the insider owned 2,946,766 shares of the company's stock, valued at approximately $57,933,419.56. This trade represents a 0.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $30.00.

Intercorp Financial Services Stock Up 2.3%

Intercorp Financial Services stock traded up $0.94 during trading hours on Wednesday, hitting $41.13. 318,939 shares of the stock traded hands, compared to its average volume of 209,763. The firm's 50-day moving average price is $37.76 and its two-hundred day moving average price is $35.03. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.61. The company has a market cap of $4.71 billion, a PE ratio of 9.14, a PEG ratio of 0.35 and a beta of 1.16. Intercorp Financial Services Inc. has a one year low of $23.95 and a one year high of $41.35.

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.