Intercorp Financial Services (NYSE:IFS) Stock Price Up 6.6% Following Earnings Beat

Intercorp Financial Services Inc. (NYSE:IFS) shares rose 6.6% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $32.80 and last traded at $33.12. Approximately 99,229 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 160,315 shares. The stock had previously closed at $31.06.

The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.94 by $0.19. Intercorp Financial Services had a net margin of 18.00% and a return on equity of 10.67%.

Insider Buying and Selling

In other news, major shareholder Peru Ltd Intercorp acquired 574,071 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $19.79 per share, with a total value of $11,360,865.09. Following the purchase, the insider now owns 2,470,230 shares of the company’s stock, valued at approximately $48,885,851.70. This trade represents a 30.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On Intercorp Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in Intercorp Financial Services in the 3rd quarter worth approximately $447,000. Principal Financial Group Inc. lifted its position in Intercorp Financial Services by 351.5% in the 3rd quarter. Principal Financial Group Inc. now owns 231,269 shares of the company’s stock worth $6,043,000 after buying an additional 180,043 shares in the last quarter. Helikon Investments Ltd lifted its position in Intercorp Financial Services by 24.8% in the 3rd quarter. Helikon Investments Ltd now owns 974,819 shares of the company’s stock worth $25,472,000 after buying an additional 193,474 shares in the last quarter. Citigroup Inc. lifted its position in Intercorp Financial Services by 466.7% in the 3rd quarter. Citigroup Inc. now owns 213,392 shares of the company’s stock worth $5,591,000 after buying an additional 175,734 shares in the last quarter. Finally, State Street Corp lifted its position in Intercorp Financial Services by 13.3% in 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 in the last quarter.

Intercorp Financial Services Trading Up 4.5 %

The company has a market cap of $3.71 billion, a PE ratio of 12.72, a P/E/G ratio of 0.27 and a beta of 1.26. The business’s 50-day simple moving average is $29.14 and its 200-day simple moving average is $26.74.

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.