Intercorp Financial Services (NYSE:IFS) Sets New 52-Week High - What's Next?

Key Points

• Intercorp Financial Services' stock has achieved a new 52-week high of $40.82, closing at $40.67 with a trading volume of 2,674 shares.
• Wall Street analysts upgraded Intercorp's rating from "buy" to "strong-buy", with a consensus rating of "buy" and an average price target of $30.00.
• Significant increases in shareholding have been observed from institutional investors, including Helikon Investments Ltd and Millennium Management LLC, indicating growing confidence in the company's prospects.

Intercorp Financial Services Inc. (NYSE:IFS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $40.82 and last traded at $40.67, with a volume of 2674 shares. The stock had previously closed at $40.19.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $30.00.

Intercorp Financial Services Trading Up 0.9%

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.61. The firm's 50-day moving average is $37.66 and its 200 day moving average is $34.99. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 9.01, a P/E/G ratio of 0.35 and a beta of 1.16.

Insider Transactions at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp purchased 17,803 shares of Intercorp Financial Services stock in a transaction that occurred on Tuesday, July 22nd. The stock was acquired at an average price of $19.66 per share, with a total value of $350,006.98. Following the transaction, the insider owned 2,946,766 shares in the company, valued at $57,933,419.56. This trade represents a 0.61% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Intercorp Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Helikon Investments Ltd boosted its stake in shares of Intercorp Financial Services by 21.9% during the first quarter. Helikon Investments Ltd now owns 1,188,211 shares of the company's stock valued at $39,365,000 after purchasing an additional 213,392 shares during the period. Acadian Asset Management LLC lifted its stake in Intercorp Financial Services by 14.1% in the second quarter. Acadian Asset Management LLC now owns 986,309 shares of the company's stock worth $37,566,000 after acquiring an additional 122,219 shares during the period. Millennium Management LLC lifted its stake in Intercorp Financial Services by 2,109.3% in the fourth quarter. Millennium Management LLC now owns 556,972 shares of the company's stock worth $16,342,000 after acquiring an additional 531,762 shares during the period. Marshall Wace LLP lifted its stake in Intercorp Financial Services by 108.1% in the second quarter. Marshall Wace LLP now owns 519,319 shares of the company's stock worth $19,802,000 after acquiring an additional 269,712 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Intercorp Financial Services by 91.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 502,912 shares of the company's stock worth $19,176,000 after acquiring an additional 239,920 shares during the period.

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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