Intercorp Financial Services (NYSE:IFS) Hits New 52-Week High - Here's Why

Key Points

• Intercorp Financial Services shares reached a new 52-week high of $41.71 on Wednesday, closing at $41.64 with a trading volume of 86,708 shares.
• Equities research analysts have upgraded Intercorp Financial Services' rating to a strong-buy, increasing the average price target to $30.00.
• Major shareholder Peru Ltd Intercorp recently acquired 17,803 shares at an average price of $19.66 each, increasing their ownership stake to approximately $57.93 million.

Intercorp Financial Services Inc. (NYSE:IFS - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $41.71 and last traded at $41.64, with a volume of 86708 shares traded. The stock had previously closed at $40.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on IFS shares. Zacks Research raised shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. Wall Street Zen raised shares of Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has an average rating of "Strong Buy".

Intercorp Financial Services Trading Down 0.9%

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 9.32, a P/E/G ratio of 0.37 and a beta of 1.16. The business's 50-day simple moving average is $38.24 and its 200-day simple moving average is $35.51.

Insider Buying and Selling at Intercorp Financial Services

In other news, major shareholder Peru Ltd Intercorp purchased 17,803 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were acquired at an average cost of $19.66 per share, for a total transaction of $350,006.98. Following the transaction, the insider directly owned 2,946,766 shares of the company's stock, valued at approximately $57,933,419.56. The trade was a 0.61% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Institutional Trading of Intercorp Financial Services

Hedge funds have recently modified their holdings of the company. Employees Retirement System of Texas acquired a new stake in shares of Intercorp Financial Services in the 4th quarter valued at approximately $155,000. FNY Investment Advisers LLC acquired a new stake in shares of Intercorp Financial Services in the 1st quarter valued at approximately $182,000. Allianz Asset Management GmbH acquired a new stake in shares of Intercorp Financial Services in the 2nd quarter valued at approximately $283,000. Jane Street Group LLC acquired a new stake in shares of Intercorp Financial Services in the 1st quarter valued at approximately $287,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Intercorp Financial Services in the 1st quarter valued at approximately $303,000.

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.