Mackenzie Financial Corp Purchases New Shares in Intercorp Financial Services Inc. (NYSE:IFS)

Key Points

• Mackenzie Financial Corp acquired 9,144 shares of Intercorp Financial Services Inc. (NYSE: IFS) worth approximately $303,000 in the first quarter.
• Major shareholder Peru Ltd Intercorp purchased 17,803 shares at $19.66 each, increasing their stake to nearly 2.95 million shares valued at about $57.93 million.
• Analysts at Wall Street Zen downgraded Intercorp Financial Services from a "strong-buy" to a "buy" rating in June.

Mackenzie Financial Corp acquired a new position in Intercorp Financial Services Inc. (NYSE:IFS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,144 shares of the company's stock, valued at approximately $303,000.

A number of other hedge funds have also recently made changes to their positions in the business. Millennium Management LLC increased its holdings in shares of Intercorp Financial Services by 2,109.3% in 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. Driehaus Capital Management LLC bought a new stake in shares of Intercorp Financial Services in the 4th quarter worth about $4,901,000. Mirabella Financial Services LLP increased its holdings in shares of Intercorp Financial Services by 614.1% in the 4th quarter. Mirabella Financial Services LLP now owns 127,797 shares of the company's stock worth $3,750,000 after buying an additional 109,900 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Intercorp Financial Services by 115.3% in the 4th quarter. Marshall Wace LLP now owns 172,118 shares of the company's stock worth $5,050,000 after buying an additional 92,188 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Intercorp Financial Services by 39.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 280,131 shares of the company's stock worth $8,219,000 after buying an additional 78,822 shares during the last quarter.

Insider Buying and Selling at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp purchased 17,803 shares of the firm's stock in a transaction dated 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 completion of the purchase, the insider owned 2,946,766 shares in the company, valued at approximately $57,933,419.56. This represents a 0.61% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Intercorp Financial Services from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th.

Intercorp Financial Services Stock Performance

Shares of NYSE IFS traded up $0.28 during midday trading on Wednesday, reaching $40.03. The company had a trading volume of 58,576 shares, compared to its average volume of 211,899. The stock has a market cap of $4.58 billion, a P/E ratio of 10.68, a P/E/G ratio of 0.35 and a beta of 1.15. Intercorp Financial Services Inc. has a 1 year low of $22.36 and a 1 year high of $40.25. The business's 50-day simple moving average is $36.68 and its 200 day simple moving average is $34.16. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.65.

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.