Lingohr Asset Management GmbH Invests $1.53 Million in Intercorp Financial Services Inc. $IFS

Key Points

• Lingohr Asset Management GmbH invested approximately $1.53 million in Intercorp Financial Services Inc. during the 2nd quarter, making it the firm's 5th largest position.
• Research analysts upgraded Intercorp Financial Services, with Zacks Research and Wall Street Zen both giving it a "strong-buy" rating, reflecting positive sentiment towards the stock.
• Major shareholder Peru Ltd Intercorp purchased 17,803 shares at an average cost of $19.66 per share, increasing their ownership stake in the company.

Lingohr Asset Management GmbH purchased a new stake in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 40,535 shares of the company's stock, valued at approximately $1,532,000. Intercorp Financial Services accounts for about 2.8% of Lingohr Asset Management GmbH's portfolio, making the stock its 5th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Helikon Investments Ltd raised its holdings 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 purchasing an additional 213,392 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Intercorp Financial Services by 93.9% during the 1st quarter. Acadian Asset Management LLC now owns 864,090 shares of the company's stock worth $28,593,000 after buying an additional 418,351 shares during the last quarter. Millennium Management LLC raised its stake in shares of Intercorp Financial Services by 2,109.3% during the 4th 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 last quarter. Principal Financial Group Inc. raised its stake in shares of Intercorp Financial Services by 4.0% during the 1st 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 last quarter. Finally, Lord Abbett & CO. LLC raised its stake 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 during the last quarter.

Insider Activity at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp bought 17,803 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was bought at an average cost of $19.66 per share, for a total transaction of $350,006.98. Following the completion of the purchase, the insider directly owned 2,946,766 shares in the company, valued at approximately $57,933,419.56. The trade was a 0.61% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on IFS shares. Zacks Research upgraded Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. Wall Street Zen raised shares of Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has an average rating of "Strong Buy".

Intercorp Financial Services Stock Up 0.3%

NYSE IFS traded up $0.12 during mid-day trading on Friday, reaching $39.52. 92,268 shares of the company's stock traded hands, compared to its average volume of 206,445. Intercorp Financial Services Inc. has a 1-year low of $24.28 and a 1-year high of $42.21. 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 $4.52 billion, a price-to-earnings ratio of 8.78, a P/E/G ratio of 0.37 and a beta of 1.16. The company has a fifty day simple moving average of $38.55 and a 200-day simple moving average of $35.71.

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.