Driehaus Capital Management LLC Acquires 151,027 Shares of Intercorp Financial Services Inc. $IFS

Key Points

• Driehaus Capital Management LLC increased its holdings in Intercorp Financial Services Inc. by 90.4% in the 1st quarter, now owning approximately $10.54 million worth of shares.
• Several hedge funds have recently acquired positions in Intercorp Financial Services, with notable investments including the Employees Retirement System of Texas and Mackenzie Financial Corp.
• Analyst ratings for the stock have improved, with Wall Street Zen upgrading it from a "buy" to a "strong-buy", and the current consensus rating remains a "Buy" with an average price target of $30.00.

Driehaus Capital Management LLC increased its position in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) by 90.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 318,065 shares of the company's stock after purchasing an additional 151,027 shares during the quarter. Driehaus Capital Management LLC owned 0.28% of Intercorp Financial Services worth $10,537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Intercorp Financial Services by 4.0% during the first quarter. Principal Financial Group Inc. now owns 396,356 shares of the company's stock worth $13,131,000 after purchasing an additional 15,087 shares during the period. Bank of America Corp DE raised its stake in Intercorp Financial Services by 141.4% during the fourth quarter. Bank of America Corp DE now owns 28,875 shares of the company's stock worth $847,000 after acquiring an additional 16,916 shares in the last quarter. Northern Trust Corp raised its stake in Intercorp Financial Services by 103.5% during the fourth quarter. Northern Trust Corp now owns 61,206 shares of the company's stock worth $1,796,000 after acquiring an additional 31,136 shares in the last quarter. Helikon Investments Ltd raised its stake in Intercorp Financial Services by 21.9% during the first quarter. Helikon Investments Ltd now owns 1,188,211 shares of the company's stock worth $39,365,000 after acquiring an additional 213,392 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Intercorp Financial Services during the fourth quarter worth about $1,382,000.

Analyst Ratings Changes

Separately, 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 Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $30.00.

Insider Buying and Selling

In related 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 shares were acquired 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 directly owned 2,946,766 shares of the company's stock, valued at approximately $57,933,419.56. The trade was a 0.61% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Intercorp Financial Services Trading Up 2.3%

IFS stock traded up $0.94 during trading on Wednesday, hitting $41.13. The company had a trading volume of 318,939 shares, compared to its average volume of 208,790. The business has a 50-day moving average of $37.66 and a 200-day moving average of $34.99. Intercorp Financial Services Inc. has a one year low of $23.95 and a one year high of $41.35. The stock 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. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.61.

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.