Arrowstreet Capital Limited Partnership lifted its position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,525,566 shares of the bank's stock after purchasing an additional 2,394,121 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.57% of Itau Unibanco worth $454,843,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Itau Unibanco by 0.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 41,387,090 shares of the bank's stock worth $303,781,000 after purchasing an additional 369,474 shares in the last quarter. Todd Asset Management LLC boosted its holdings in Itau Unibanco by 5.3% during the 3rd quarter. Todd Asset Management LLC now owns 6,162,981 shares of the bank's stock valued at $45,236,000 after acquiring an additional 311,472 shares during the period. Seafarer Capital Partners LLC boosted its holdings in Itau Unibanco by 3.0% during the 4th quarter. Seafarer Capital Partners LLC now owns 10,909,142 shares of the bank's stock valued at $78,109,000 after acquiring an additional 317,742 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Itau Unibanco by 8.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 3,725,339 shares of the bank's stock valued at $27,344,000 after acquiring an additional 286,200 shares during the period. Finally, Capital Research Global Investors boosted its holdings in Itau Unibanco by 1.1% during the 3rd quarter. Capital Research Global Investors now owns 29,215,208 shares of the bank's stock valued at $214,437,000 after acquiring an additional 329,932 shares during the period.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on ITUB. Zacks Research cut Itau Unibanco from a "strong-buy" rating to a "hold" rating in a report on Friday, March 13th. JPMorgan Chase & Co. increased their target price on Itau Unibanco from $8.00 to $9.00 and gave the company an "overweight" rating in a report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Itau Unibanco has an average rating of "Moderate Buy" and a consensus target price of $9.00.
Get Our Latest Research Report on Itau Unibanco
Insider Activity at Itau Unibanco
In other news, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $8.82, for a total value of $1,612,296.00. Following the completion of the transaction, the insider owned 1,637,511 shares of the company's stock, valued at approximately $14,442,847.02. This represents a 10.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Fajerman Sergio Guillinet sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $9.38, for a total value of $469,000.00. Following the transaction, the insider directly owned 1,265,119 shares of the company's stock, valued at approximately $11,866,816.22. This trade represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 292,277 shares of company stock valued at $2,646,512 in the last three months. Corporate insiders own 0.61% of the company's stock.
Itau Unibanco Trading Up 0.9%
ITUB opened at $7.99 on Friday. The business has a 50 day simple moving average of $8.33 and a two-hundred day simple moving average of $8.12. The firm has a market capitalization of $88.44 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 0.86 and a beta of 0.59. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.79 and a quick ratio of 1.79. Itau Unibanco Holding S.A. has a one year low of $5.93 and a one year high of $9.60.
Itau Unibanco (NYSE:ITUB - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.02). Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%. The business had revenue of $9.01 billion for the quarter, compared to the consensus estimate of $9.41 billion. Analysts predict that Itau Unibanco Holding S.A. will post 0.89 EPS for the current year.
Itau Unibanco Dividend Announcement
The company also recently announced a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, June 22nd will be given a $0.068 dividend. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco's dividend payout ratio is currently 4.11%.
Itau Unibanco Company Profile
(
Free Report)
Itaú Unibanco SA NYSE: ITUB is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.
The bank offers a full range of financial products and services across retail, commercial and wholesale banking.
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Want to see what other hedge funds are holding ITUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report).
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