PDT Partners LLC Raises Holdings in Intercorp Financial Services Inc. $IFS

Key Points

• PDT Partners LLC increased its holdings in Intercorp Financial Services Inc. by 114.6% during the 1st quarter, owning $1.74 million worth of shares after acquiring an additional 28,097 shares.
• Several institutional investors, including Northern Trust Corp and Bank of America Corp, significantly increased their stakes in Intercorp Financial Services during the fourth quarter.
• Wall Street Zen upgraded Intercorp Financial Services from a "buy" to a "strong-buy" rating, with a consensus price target of $30.00 for the stock.

PDT Partners LLC increased its position in Intercorp Financial Services Inc. (NYSE:IFS - Free Report) by 114.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,608 shares of the company's stock after acquiring an additional 28,097 shares during the period. PDT Partners LLC's holdings in Intercorp Financial Services were worth $1,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of IFS. Principal Financial Group Inc. lifted its stake in Intercorp Financial Services by 4.0% in the 1st 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 in the last quarter. Bank of America Corp DE lifted its stake in Intercorp Financial Services by 141.4% in the 4th quarter. Bank of America Corp DE now owns 28,875 shares of the company's stock valued at $847,000 after buying an additional 16,916 shares in the last quarter. Northern Trust Corp lifted its stake in Intercorp Financial Services by 103.5% in the 4th quarter. Northern Trust Corp now owns 61,206 shares of the company's stock valued at $1,796,000 after buying an additional 31,136 shares in the last quarter. Helikon Investments Ltd lifted its stake in Intercorp Financial Services by 21.9% in the 1st quarter. Helikon Investments Ltd now owns 1,188,211 shares of the company's stock valued at $39,365,000 after buying an additional 213,392 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Intercorp Financial Services in the 4th quarter valued at approximately $1,382,000.

Insider Buying and Selling at Intercorp Financial Services

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. Zacks Research raised Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Strong Buy" and a consensus target price of $30.00.

Intercorp Financial Services Trading Up 0.2%

Shares of Intercorp Financial Services stock traded up $0.08 during trading hours on Friday, reaching $40.82. 127,046 shares of the company's stock were exchanged, compared to its average volume of 171,236. Intercorp Financial Services Inc. has a 52-week low of $23.95 and a 52-week high of $41.52. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 0.36 and a beta of 1.16. The company has a fifty day moving average of $37.88 and a 200-day moving average of $35.14. 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.