Fri Sep 20 12:35:59 UTC 2024: ## Intercorp Financial Services Sees Increased Trading Volume Amidst Analyst Downgrade

**New York, NY – September 20, 2024** – Intercorp Financial Services Inc. (NYSE: IFS) experienced a surge in trading volume on Wednesday, with 110,147 shares changing hands, representing a 14% increase from the previous day’s volume. The stock closed at $24.49, slightly up from the previous day’s close of $24.32.

The increased trading activity comes amidst a recent downgrade by JPMorgan Chase & Co. On September 12th, the firm lowered its price target on Intercorp Financial Services from $31.00 to $30.00, but maintained an “overweight” rating for the company.

Despite the analyst downgrade, Intercorp Financial Services continues to demonstrate strong financial performance. The company reported earnings per share of $0.66 for the quarter ending August 14th, surpassing analysts’ estimates by $0.09. Revenue for the quarter reached $414.92 million, slightly below the consensus estimate of $423.35 million.

Furthermore, the company witnessed significant insider buying activity. On June 27th, Peru Ltd Intercorp, a major shareholder, purchased 342,154 shares at an average price of $19.67 per share, totaling $6,730,169.18. This purchase increased the insider’s direct ownership to 1,595,688 shares, valued at approximately $31,387,182.96.

Institutional investors are also showing continued interest in Intercorp Financial Services. Jump Financial LLC acquired a new stake in the company in the fourth quarter, worth approximately $255,000. Helikon Investments Ltd. increased its holdings by 195.7% in the same period, now owning 301,247 shares valued at $6,612,000. Schroder Investment Management Group also raised its position by 4.4% in the fourth quarter, now owning 752,596 shares valued at $16,519,000. Dodge & Cox and Russell Investments Group Ltd. acquired new positions in the fourth and first quarter respectively.

Intercorp Financial Services, headquartered in Peru, provides a range of financial services to retail and commercial clients, including banking, insurance, wealth management, and payment solutions. The company’s robust performance and sustained investor interest make it a company to watch in the coming months.

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