Intercorp Financial Services (NYSE:IFS) Director Sells $10,746.00 in Stock

Key Points

• Director sale: Director Maria Guzman Hugo Antoni Santa sold 225 shares on March 26 at an average price of $47.76, totaling $10,746, as disclosed in an SEC filing.
• Dividend increase: The company declared an annual dividend of $1.80 per share (up from $1.00), with record/ex-dividend date on April 24 and payment on May 5, implying a reported yield of 358.0%.
• Market and sentiment: IFS traded up to $49.30 on heavy volume (481,156 shares vs. a 263,755 average), several institutional investors substantially raised positions, and analysts hold a consensus "Moderate Buy" with an average price target of $48.00.

Intercorp Financial Services Inc. (NYSE:IFS - Get Free Report) Director Maria Guzman Hugo Antoni Santa sold 225 shares of Intercorp Financial Services stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $47.76, for a total transaction of $10,746.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Intercorp Financial Services Price Performance

IFS stock traded up $3.50 during midday trading on Thursday, reaching $49.30. 481,156 shares of the company's stock traded hands, compared to its average volume of 263,755. The company has a market capitalization of $5.64 billion, a P/E ratio of 10.23, a PEG ratio of 0.41 and a beta of 0.85. Intercorp Financial Services Inc. has a fifty-two week low of $30.59 and a fifty-two week high of $53.00. The business has a 50-day moving average price of $48.60 and a two-hundred day moving average price of $44.62.

Intercorp Financial Services Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th will be given a dividend of $1.80 per share. This represents a yield of 358.0%. This is a positive change from Intercorp Financial Services's previous annual dividend of $1.00. The ex-dividend date of this dividend is Friday, April 24th. Intercorp Financial Services's dividend payout ratio is presently 19.71%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group lifted its position in shares of Intercorp Financial Services by 34.2% during the fourth quarter. Schroder Investment Management Group now owns 750,628 shares of the company's stock worth $31,797,000 after purchasing an additional 191,217 shares in the last quarter. Millennium Management LLC lifted its position in shares of Intercorp Financial Services by 66.7% during the fourth quarter. Millennium Management LLC now owns 639,381 shares of the company's stock worth $27,084,000 after purchasing an additional 255,753 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Intercorp Financial Services by 7.2% during the fourth quarter. JPMorgan Chase & Co. now owns 631,168 shares of the company's stock worth $26,736,000 after purchasing an additional 42,149 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Intercorp Financial Services by 15.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 581,245 shares of the company's stock worth $23,447,000 after purchasing an additional 78,333 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Intercorp Financial Services by 24.4% during the third quarter. Principal Financial Group Inc. now owns 534,609 shares of the company's stock worth $21,566,000 after purchasing an additional 104,792 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have weighed in on IFS. Wall Street Zen cut shares of Intercorp Financial Services from a "buy" rating to a "hold" rating in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Intercorp Financial Services in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Intercorp Financial Services currently has a consensus rating of "Moderate Buy" and an average price target of $48.00.

About Intercorp Financial Services

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.