Itau Unibanco Holding S.A. Takes $1.44 Million Position in Intercorp Financial Services Inc. $IFS

Key Points

• Itau Unibanco Holding S.A. acquired 43,310 shares of Intercorp Financial Services Inc. valued at approximately $1.4 million during the first quarter.
• Major shareholder Peru Ltd Intercorp increased their stake by purchasing 17,803 shares for about $350,007 on July 22nd.
• Wall Street analysts upgraded Intercorp Financial Services from a "buy" to a "strong-buy" rating, with a consensus price target of $30.00.

Itau Unibanco Holding S.A. acquired a new position in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 43,310 shares of the company's stock, valued at approximately $1,435,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Walleye Capital LLC acquired a new stake in shares of Intercorp Financial Services during the 1st quarter worth approximately $706,000. Jump Financial LLC lifted its stake in Intercorp Financial Services by 64.7% during the first quarter. Jump Financial LLC now owns 29,789 shares of the company's stock worth $987,000 after purchasing an additional 11,698 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Intercorp Financial Services by 50.2% in the 1st quarter. Quantbot Technologies LP now owns 16,404 shares of the company's stock valued at $543,000 after purchasing an additional 5,481 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Intercorp Financial Services by 262.6% in the 1st quarter. American Century Companies Inc. now owns 179,306 shares of the company's stock valued at $5,940,000 after purchasing an additional 129,857 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Intercorp Financial Services by 15.5% during the 1st 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 in the last quarter.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $30.00.

Intercorp Financial Services Price Performance

Shares of NYSE:IFS traded down $0.14 during trading on Friday, hitting $39.77. 123,221 shares of the company were exchanged, compared to its average volume of 227,485. The business's 50 day moving average is $37.50 and its 200-day moving average is $34.89. The company has a market capitalization of $4.55 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 0.37 and a beta of 1.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. Intercorp Financial Services Inc. has a 1-year low of $23.95 and a 1-year high of $40.24.

Insider Transactions at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp bought 17,803 shares of Intercorp Financial Services stock in a transaction on Tuesday, July 22nd. The shares were purchased at an average cost of $19.66 per share, with a total value of $350,006.98. Following the acquisition, the insider directly owned 2,946,766 shares of the company's stock, valued at $57,933,419.56. The trade was a 0.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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.