Intercorp Financial Services (NYSE:IFS) Hits New 1-Year High - Here's Why

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) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $38.83 and last traded at $39.53, with a volume of 4758 shares trading hands. The stock had previously closed at $37.66.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Intercorp Financial Services from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th.

Intercorp Financial Services Price Performance

The stock's 50-day moving average is $36.58 and its 200 day moving average is $34.12. The stock has a market capitalization of $4.50 billion, a PE ratio of 10.52, a P/E/G ratio of 0.35 and a beta of 1.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.65.

Insider Transactions at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp bought 17,803 shares of Intercorp Financial Services stock in a transaction on Tuesday, July 22nd. The stock was purchased at an average cost of $19.66 per share, for a total transaction of $350,006.98. Following the completion of the purchase, the insider directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Intercorp Financial Services

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in shares of Intercorp Financial Services by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 17,332 shares of the company's stock worth $509,000 after buying an additional 533 shares during the last quarter. Boston Partners lifted its stake in shares of Intercorp Financial Services by 4.0% in the first quarter. Boston Partners now owns 26,917 shares of the company's stock worth $892,000 after buying an additional 1,045 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Intercorp Financial Services by 4.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,700 shares of the company's stock worth $2,602,000 after buying an additional 3,500 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Intercorp Financial Services by 9.4% in the second quarter. Public Employees Retirement System of Ohio now owns 61,148 shares of the company's stock worth $2,332,000 after buying an additional 5,244 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new position in Intercorp Financial Services during the 4th quarter valued at $155,000.

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.

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