Intercorp Financial Services (NYSE:IFS) Sets New 12-Month High After Insider Buying Activity

Intercorp Financial Services Inc. (NYSE:IFS - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $37.47 and last traded at $37.45, with a volume of 102611 shares traded. The stock had previously closed at $36.19.

Specifically, major shareholder Peru Ltd Intercorp acquired 12,729 shares of Intercorp Financial Services stock in a transaction that occurred on Tuesday, June 24th. The shares were acquired at an average cost of $19.64 per share, with a total value of $249,997.56. Following the completion of the purchase, the insider now directly owns 2,928,964 shares of the company's stock, valued at $57,524,852.96. This represents a 0.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

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

Intercorp Financial Services Stock Down 0.3%

The stock has a 50 day moving average price of $35.12 and a 200 day moving average price of $32.41. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth 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.

Intercorp Financial Services (NYSE:IFS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.17. Intercorp Financial Services had a return on equity of 15.04% and a net margin of 24.51%. The firm had revenue of $382.57 million for the quarter, compared to analyst estimates of $1.35 billion. As a group, analysts forecast that Intercorp Financial Services Inc. will post 4.23 EPS for the current year.

Intercorp Financial Services Dividend Announcement

The company also recently declared an annual dividend, which was paid on Monday, May 5th. Stockholders of record on Thursday, April 24th were paid a dividend of $1.00 per share. This represents a dividend yield of 3%. The ex-dividend date was Wednesday, April 23rd. Intercorp Financial Services's payout ratio is 25.33%.

Institutional Trading of Intercorp Financial Services

Hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund bought a new stake in shares of Intercorp Financial Services in the fourth quarter valued at $716,000. Los Angeles Capital Management LLC purchased a new position in Intercorp Financial Services during the 4th quarter valued at $1,246,000. Nipun Capital L.P. purchased a new position in Intercorp Financial Services during the 4th quarter valued at $337,000. Teacher Retirement System of Texas purchased a new position in Intercorp Financial Services during the 4th quarter valued at $1,497,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Intercorp Financial Services during the 4th quarter valued at $238,000.

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.