Engineers Gate Manager LP Acquires 143,650 Shares of Itau Unibanco Holding S.A. $ITUB

Engineers Gate Manager LP grew its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 19.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 878,443 shares of the bank's stock after purchasing an additional 143,650 shares during the quarter. Engineers Gate Manager LP's holdings in Itau Unibanco were worth $7,177,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GQG Partners LLC grew its holdings in Itau Unibanco by 6.3% during the fourth quarter. GQG Partners LLC now owns 96,959,405 shares of the bank's stock valued at $694,229,000 after purchasing an additional 5,737,696 shares during the period. Orbis Allan Gray Ltd lifted its position in shares of Itau Unibanco by 104.3% during the second quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank's stock worth $574,053,000 after acquiring an additional 43,153,787 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Itau Unibanco by 3.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 63,525,566 shares of the bank's stock worth $454,843,000 after acquiring an additional 2,394,121 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Itau Unibanco by 5.2% in the fourth quarter. JPMorgan Chase & Co. now owns 43,540,350 shares of the bank's stock worth $311,749,000 after acquiring an additional 2,153,260 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Itau Unibanco by 3.7% in the fourth quarter. Wellington Management Group LLP now owns 42,818,183 shares of the bank's stock worth $306,578,000 after acquiring an additional 1,520,759 shares during the period.

Itau Unibanco Trading Up 0.3%

NYSE ITUB opened at $8.32 on Friday. The firm has a market cap of $92.20 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56. Itau Unibanco Holding S.A. has a 1-year low of $6.54 and a 1-year high of $9.60. The stock has a 50-day moving average of $8.02 and a 200-day moving average of $8.20. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.44.

Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%.The company had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.29 billion. As a group, sell-side analysts forecast that Itau Unibanco Holding S.A. will post 0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Itau Unibanco from $9.00 to $10.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Weiss Ratings downgraded Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Itau Unibanco has an average rating of "Moderate Buy" and a consensus price target of $10.00.

Insider Buying and Selling

In other Itau Unibanco news, insider Vanzo Orestes sold 74,643 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $8.38, for a total transaction of $625,508.34. Following the completion of the sale, the insider owned 933,371 shares of the company's stock, valued at $7,821,648.98. This represents a 7.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is owned by corporate insiders.

Itau Unibanco Profile

Itaú Unibanco Holding SA is one of Brazil's largest financial institutions and provides banking and financial services to individuals, companies and institutional clients. Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, insurance, payment solutions, foreign exchange and investment products.

The company also operates businesses in investment banking, corporate and treasury services, asset management, private banking and wealth management.

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