Russell Investments Group Ltd. Acquires 16,877 Shares of Intercorp Financial Services Inc. $IFS

Key Points

• Russell Investments Group Ltd. increased its holdings in Intercorp Financial Services by 41.1%, acquiring an additional 16,877 shares, bringing their total to 57,965 shares worth approximately $1.94 million.
• Analyst ratings for Intercorp Financial Services have improved, with Wall Street Zen upgrading the stock from a "buy" to a "strong-buy," and a consensus price target set at $30.00.
• Significant insider trading was reported as Peru Ltd Intercorp purchased 17,803 shares at an average price of $19.66, increasing their ownership stake to approximately $57.93 million in value.

Russell Investments Group Ltd. lifted its stake in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) by 41.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,965 shares of the company's stock after purchasing an additional 16,877 shares during the period. Russell Investments Group Ltd. owned approximately 0.05% of Intercorp Financial Services worth $1,942,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IFS. Nuveen LLC acquired a new position in Intercorp Financial Services in the first quarter valued at approximately $1,067,000. Helikon Investments Ltd boosted its position in shares of 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 in the last quarter. Fourth Sail Capital LP bought a new position in shares of Intercorp Financial Services during the first quarter worth $8,543,000. Mackenzie Financial Corp bought a new position in shares of Intercorp Financial Services during the first quarter worth $303,000. Finally, New York State Common Retirement Fund boosted its position in shares of Intercorp Financial Services by 111.9% during the first quarter. New York State Common Retirement Fund now owns 51,724 shares of the company's stock worth $1,714,000 after purchasing an additional 27,309 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, 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 Buy rating, Based on data from MarketBeat.com, Intercorp Financial Services presently has a consensus rating of "Buy" and an average target price of $30.00.

Insider Buying and Selling

In related news, major shareholder Peru Ltd Intercorp acquired 17,803 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were acquired at an average cost of $19.66 per share, with a total value of $350,006.98. Following the transaction, the insider owned 2,946,766 shares of the company's stock, valued at $57,933,419.56. The trade was a 0.61% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Intercorp Financial Services Stock Down 0.3%

IFS traded down $0.14 during trading on Friday, hitting $39.77. The company had a trading volume of 123,221 shares, compared to its average volume of 227,485. The company has a market capitalization of $4.55 billion, a PE ratio of 8.84, a PEG ratio of 0.37 and a beta of 1.15. Intercorp Financial Services Inc. has a one year low of $23.95 and a one year high of $40.24. The firm's 50-day moving average price is $37.50 and its 200 day moving average price is $34.89. The company has a quick ratio of 1.12, a current 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.