Intercorp Financial Services (NYSE:IFS) Sets New 12-Month High - What's Next?

Key Points

• Intercorp Financial Services Inc. shares reached a new 52-week high of $39.53 during trading, showing significant momentum with a recent closing price of $37.66.
• Analyst ratings have changed, with Wall Street Zen downgrading the stock from a "strong-buy" to a "buy" rating on June 8th.
• Major shareholder Peru Ltd Intercorp increased their stake by purchasing 17,803 shares at an average price of $19.66 per share, leading to a direct ownership of nearly 2.95 million shares.

Intercorp Financial Services Inc. (NYSE:IFS - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $38.83 and last traded at $39.53, with a volume of 4758 shares changing hands. The stock had previously closed at $37.66.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a report on Saturday.

Intercorp Financial Services Stock Down 0.1%

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.12. The firm's 50 day moving average is $36.87 and its two-hundred day moving average is $34.32. The firm has a market capitalization of $4.43 billion, a P/E ratio of 8.60, a PEG ratio of 0.36 and a beta of 1.15.

Insider Buying and Selling at Intercorp Financial Services

In other news, major shareholder Peru Ltd Intercorp bought 17,803 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was acquired 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 of the company's stock, valued at $57,933,419.56. This represents a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Intercorp Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in IFS. Millennium Management LLC grew its stake in shares of Intercorp Financial Services by 2,109.3% in the fourth quarter. Millennium Management LLC now owns 556,972 shares of the company's stock valued at $16,342,000 after buying an additional 531,762 shares in the last quarter. Acadian Asset Management LLC boosted its position in Intercorp Financial Services by 93.9% during the first quarter. Acadian Asset Management LLC now owns 864,090 shares of the company's stock worth $28,593,000 after purchasing an additional 418,351 shares during the period. Globeflex Capital L P boosted its position in Intercorp Financial Services by 3,477.7% during the second quarter. Globeflex Capital L P now owns 365,498 shares of the company's stock worth $13,936,000 after purchasing an additional 355,282 shares during the period. Marshall Wace LLP boosted its position in Intercorp Financial Services by 108.1% during the second quarter. Marshall Wace LLP now owns 519,319 shares of the company's stock worth $19,802,000 after purchasing an additional 269,712 shares during the period. Finally, Fourth Sail Capital LP bought a new position in Intercorp Financial Services during the first quarter worth $8,543,000.

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.