Intercorp Financial Services Inc. $IFS Shares Purchased by Ariel Investments LLC

Key Points

• Ariel Investments LLC significantly increased its stake in Intercorp Financial Services Inc. by 103.6% during the first quarter, acquiring an additional 9,426 shares.
• Analyst ratings for Intercorp Financial Services improved, with Wall Street Zen upgrading the stock from "buy" to "strong-buy," and an average price target set at $30.00.
• Major shareholder Peru Ltd Intercorp purchased 17,803 shares at an average cost of $19.66 per share, increasing their ownership and highlighting ongoing institutional interest in the company.

Ariel Investments LLC raised its position in Intercorp Financial Services Inc. (NYSE:IFS - Free Report) by 103.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 18,521 shares of the company's stock after purchasing an additional 9,426 shares during the period. Ariel Investments LLC's holdings in Intercorp Financial Services were worth $614,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Helikon Investments Ltd boosted its stake in shares of Intercorp Financial Services by 21.9% during the first quarter. Helikon Investments Ltd now owns 1,188,211 shares of the company's stock valued at $39,365,000 after acquiring an additional 213,392 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Intercorp Financial Services by 2,109.3% during the fourth quarter. Millennium Management LLC now owns 556,972 shares of the company's stock valued at $16,342,000 after acquiring an additional 531,762 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Intercorp Financial Services by 4.0% during the first quarter. Principal Financial Group Inc. now owns 396,356 shares of the company's stock valued at $13,131,000 after acquiring an additional 15,087 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Intercorp Financial Services by 15.5% during the first quarter. Lord Abbett & CO. LLC now owns 323,666 shares of the company's stock valued at $10,723,000 after acquiring an additional 43,535 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in shares of Intercorp Financial Services by 90.4% during the first quarter. Driehaus Capital Management LLC now owns 318,065 shares of the company's stock valued at $10,537,000 after acquiring an additional 151,027 shares during the last quarter.

Insider Activity at Intercorp Financial Services

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

Intercorp Financial Services Stock Up 0.2%

Shares of NYSE:IFS traded up $0.08 during mid-day trading on Friday, hitting $40.82. 127,046 shares of the company traded hands, compared to its average volume of 171,236. The firm has a market cap of $4.67 billion, a P/E ratio of 9.07, a PEG ratio of 0.36 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.12 and a current ratio of 1.12. Intercorp Financial Services Inc. has a 52-week low of $23.95 and a 52-week high of $41.52. The firm's 50 day simple moving average is $37.88 and its 200 day simple moving average is $35.14.

Analyst Upgrades and Downgrades

IFS has been the topic of a number of analyst reports. Zacks Research raised Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Wall Street Zen raised Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, Intercorp Financial Services has a consensus rating of "Strong Buy" and a consensus target price of $30.00.

Intercorp Financial Services Company 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.