Intercorp Financial Services (NYSE:IFS) Stock Rating Upgraded by Wall Street Zen

Intercorp Financial Services (NYSE:IFS - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

Intercorp Financial Services Stock Up 1.9%

Shares of IFS traded up $0.66 during mid-day trading on Friday, reaching $35.47. 23,184 shares of the stock traded hands, compared to its average volume of 147,569. The stock has a fifty day simple moving average of $33.40 and a 200 day simple moving average of $31.47. Intercorp Financial Services has a 12-month low of $21.40 and a 12-month high of $36.90. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 0.32 and a beta of 1.17.

Intercorp Financial Services (NYSE:IFS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.17. Intercorp Financial Services had a net margin of 21.03% and a return on equity of 12.38%. The firm had revenue of $382.57 million for the quarter, compared to the consensus estimate of $1.35 billion. On average, equities research analysts expect that Intercorp Financial Services will post 4.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp purchased 77,988 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $19.58 per share, with a total value of $1,527,005.04. Following the completion of the acquisition, the insider now directly owns 2,589,334 shares of the company's stock, valued at approximately $50,699,159.72. The trade was a 3.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Intercorp Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its position in shares of Intercorp Financial Services by 93.9% during the 1st quarter. Acadian Asset Management LLC now owns 864,090 shares of the company's stock valued at $28,593,000 after buying an additional 418,351 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Intercorp Financial Services during the first quarter valued at approximately $287,000. Goldman Sachs Group Inc. raised its position in shares of Intercorp Financial Services by 332.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company's stock worth $2,119,000 after purchasing an additional 49,173 shares during the period. Ariel Investments LLC lifted its holdings in shares of Intercorp Financial Services by 103.6% in the 1st quarter. Ariel Investments LLC now owns 18,521 shares of the company's stock worth $614,000 after purchasing an additional 9,426 shares during the last quarter. Finally, PDT Partners LLC boosted its position in Intercorp Financial Services by 114.6% during the 1st quarter. PDT Partners LLC now owns 52,608 shares of the company's stock valued at $1,743,000 after purchasing an additional 28,097 shares during the period.

Intercorp Financial Services Company Profile

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.