PVG Asset Management Corp Purchases New Shares in Intercorp Financial Services Inc. $IFS

Key Points

• PVG Asset Management purchased 24,752 shares of Intercorp Financial Services during the first quarter, worth approximately $1.35 million. Several other institutional investors also increased or initiated positions in the company.
• IFS shares opened at $58.10, near the upper end of their 52-week range of $35.45 to $61.38. The company reported quarterly EPS of $1.54, revenue of $508.76 million, a 30.53% net margin and a 17.49% return on equity.
• Analyst sentiment is broadly positive, with an average “Buy” rating and a $56 target price. Ratings were mixed, including a JPMorgan downgrade to neutral, while Zacks Research and Wall Street Zen upgraded the stock.

PVG Asset Management Corp purchased a new position in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 24,752 shares of the company's stock, valued at approximately $1,352,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IFS. Caitong International Asset Management Co. Ltd boosted its stake in shares of Intercorp Financial Services by 106.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company's stock valued at $32,000 after buying an additional 384 shares during the period. Geode Capital Management LLC lifted its position in shares of Intercorp Financial Services by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 23,608 shares of the company's stock valued at $1,000,000 after acquiring an additional 1,274 shares during the period. SG Americas Securities LLC increased its position in shares of Intercorp Financial Services by 43.1% in the fourth quarter. SG Americas Securities LLC now owns 5,308 shares of the company's stock worth $225,000 after purchasing an additional 1,599 shares during the period. Blue Trust Inc. bought a new position in shares of Intercorp Financial Services in the fourth quarter worth $94,000. Finally, Sei Investments Co. raised its stake in Intercorp Financial Services by 14.0% in the first quarter. Sei Investments Co. now owns 21,337 shares of the company's stock valued at $1,071,000 after purchasing an additional 2,618 shares in the last quarter.

Intercorp Financial Services Stock Performance

NYSE:IFS opened at $58.10 on Monday. The stock has a market cap of $6.45 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 0.81 and a beta of 0.78. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.61. The stock's 50-day moving average is $55.73 and its 200-day moving average is $50.57. Intercorp Financial Services Inc. has a 1-year low of $35.45 and a 1-year high of $61.38.

Intercorp Financial Services (NYSE:IFS - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $1.54 EPS for the quarter. Intercorp Financial Services had a net margin of 30.53% and a return on equity of 17.49%. The business had revenue of $508.76 million for the quarter. Equities research analysts anticipate that Intercorp Financial Services Inc. will post 5.97 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on IFS. JPMorgan Chase & Co. downgraded shares of Intercorp Financial Services from an "overweight" rating to a "neutral" rating and set a $56.00 price objective on the stock. in a research note on Monday, June 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercorp Financial Services in a report on Friday, May 22nd. Zacks Research upgraded Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Finally, Wall Street Zen raised Intercorp Financial Services from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Intercorp Financial Services presently has an average rating of "Buy" and an average target price of $56.00.

Intercorp Financial Services Company Profile

Intercorp Financial Services NYSE: IFS is a Lima-based financial holding company that brings together a suite of banking and non-banking financial businesses under the Intercorp Group umbrella. Through its network of subsidiaries, the company provides a broad range of products and services designed to meet the needs of individual consumers, small and medium-sized enterprises, and large corporations across Peru.

The company's core banking operations are conducted through Interbank, which offers deposit accounts, personal and business loans, credit and debit cards, trade finance and electronic banking solutions.

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