Lord Abbett & CO. LLC Boosts Stock Holdings in Intercorp Financial Services Inc. $IFS

Key Points

• Lord Abbett & CO. LLC increased its shareholding in Intercorp Financial Services by 15.5%, acquiring an additional 43,535 shares, bringing its total to approximately 323,666 shares.
• Other institutional investors have also boosted their stakes, with Russell Investments Group Ltd. increasing theirs by a remarkable 707.9% in the last quarter.
• Analysts at Wall Street Zen upgraded Intercorp Financial Services from a "buy" to a "strong-buy" rating recently, indicating increased confidence in the company's stock.

Lord Abbett & CO. LLC increased its position in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) by 15.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 323,666 shares of the company's stock after acquiring an additional 43,535 shares during the period. Lord Abbett & CO. LLC owned about 0.28% of Intercorp Financial Services worth $10,723,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IFS. Helikon Investments Ltd raised its stake 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 purchasing an additional 213,392 shares during the last quarter. Millennium Management LLC grew 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 buying an additional 531,762 shares during the last quarter. Principal Financial Group Inc. grew 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 buying an additional 15,087 shares during the last quarter. Fourth Sail Capital LP bought a new stake in shares of Intercorp Financial Services in the first quarter worth about $8,543,000. Finally, Deprince Race & Zollo Inc. grew its stake in shares of Intercorp Financial Services by 37.9% in the fourth quarter. Deprince Race & Zollo Inc. now owns 182,782 shares of the company's stock worth $5,363,000 after purchasing an additional 50,257 shares during the last quarter.

Insider Activity at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp bought 17,803 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

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

Intercorp Financial Services Trading Up 0.3%

Intercorp Financial Services stock traded up $0.1050 during midday trading on Thursday, reaching $38.4450. The stock had a trading volume of 22,432 shares, compared to its average volume of 210,281. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 0.36 and a beta of 1.15. The company has a fifty day moving average of $37.04 and a 200 day moving average of $34.50. 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 52-week low of $23.53 and a 52-week high of $40.24.

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.