Intercorp Financial Services (NYSE:IFS) Sees Unusually-High Trading Volume – Here’s What Happened

Intercorp Financial Services Inc. (NYSE:IFS) shares saw unusually-strong trading volume on Tuesday . Approximately 306,287 shares traded hands during trading, an increase of 172% from the previous session’s volume of 112,614 shares.The stock last traded at $28.98 and had previously closed at $29.13.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. decreased their target price on shares of Intercorp Financial Services from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th.

Intercorp Financial Services Stock Down 0.3 %

The firm has a 50-day moving average of $27.52 and a two-hundred day moving average of $24.83. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $3.35 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.41 and a beta of 1.29.

Insider Transactions at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp bought 13,445 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was purchased at an average price of $19.71 per share, for a total transaction of $265,000.95. Following the acquisition, the insider now owns 1,896,159 shares of the company’s stock, valued at approximately $37,373,293.89. This trade represents a 0.71 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Intercorp Financial Services

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Intercorp Financial Services by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 16,799 shares of the company’s stock worth $439,000 after acquiring an additional 401 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Intercorp Financial Services during the third quarter worth about $423,000. XTX Topco Ltd purchased a new position in shares of Intercorp Financial Services in the third quarter valued at approximately $288,000. Jane Street Group LLC acquired a new position in shares of Intercorp Financial Services in the third quarter valued at approximately $447,000. Finally, State Street Corp increased its stake in Intercorp Financial Services by 13.3% during the 3rd quarter. State Street Corp now owns 143,413 shares of the company’s stock worth $3,747,000 after buying an additional 16,793 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.