INCA Investments LLC Has $6.56 Million Holdings in Itau Unibanco Holding S.A. $ITUB

Key Points

• INCA Investments LLC trimmed its Itau Unibanco stake by 14.1% in the first quarter, selling 128,290 shares and leaving it with 783,087 shares valued at about $6.56 million. The stock remains INCA’s 9th largest position and makes up roughly 2.3% of its portfolio.
• Insider selling has continued at Itau Unibanco, with executives selling 169,477 shares worth $1.53 million over the past 90 days. Corporate insiders currently own just 0.61% of the stock.
• The bank recently missed earnings estimates but still pays a dividend, reporting EPS of $0.20 versus the $0.22 consensus and revenue of $9.01 billion versus expectations of $9.41 billion. Itau Unibanco also announced a $0.068 special dividend, while analysts maintain a Moderate Buy consensus with a $10 price target.

INCA Investments LLC reduced its position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 14.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 783,087 shares of the bank's stock after selling 128,290 shares during the quarter. Itau Unibanco makes up about 2.3% of INCA Investments LLC's holdings, making the stock its 9th largest position. INCA Investments LLC's holdings in Itau Unibanco were worth $6,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Seafarer Capital Partners LLC boosted its stake in Itau Unibanco by 3.0% in the 4th quarter. Seafarer Capital Partners LLC now owns 10,909,142 shares of the bank's stock worth $78,109,000 after purchasing an additional 317,742 shares during the period. Mirabaud Asset Management Ltd bought a new position in shares of Itau Unibanco in the 4th quarter worth $1,234,000. Northcape Capital Pty Ltd increased its stake in Itau Unibanco by 31.7% in the fourth quarter. Northcape Capital Pty Ltd now owns 12,904,308 shares of the bank's stock valued at $96,137,000 after acquiring an additional 3,106,618 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Itau Unibanco by 24.0% in the fourth quarter. William Blair Investment Management LLC now owns 36,551,763 shares of the bank's stock worth $261,679,000 after buying an additional 7,081,568 shares in the last quarter. Finally, Boston Common Asset Management LLC boosted its stake in shares of Itau Unibanco by 62.4% in the 4th quarter. Boston Common Asset Management LLC now owns 2,461,883 shares of the bank's stock valued at $17,627,000 after purchasing an additional 945,545 shares in the last quarter.

Insider Activity at Itau Unibanco

In related news, insider Fajerman Sergio Guillinet sold 39,477 shares of Itau Unibanco stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $9.53, for a total transaction of $376,215.81. Following the sale, the insider directly owned 1,205,642 shares in the company, valued at $11,489,768.26. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vanzo Carlos Orestes sold 60,000 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the completion of the transaction, the insider owned 1,008,014 shares of the company's stock, valued at approximately $8,306,035.36. The trade was a 5.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 169,477 shares of company stock worth $1,528,616 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Itau Unibanco Stock Performance

Shares of ITUB stock opened at $8.28 on Friday. Itau Unibanco Holding S.A. has a 52 week low of $5.93 and a 52 week high of $9.60. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.53. The stock has a fifty day moving average of $8.00 and a 200 day moving average of $8.23. The firm has a market capitalization of $91.66 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.88 and a beta of 0.58.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). The company had revenue of $9.01 billion during the quarter, compared to analysts' expectations of $9.41 billion. Itau Unibanco had a return on equity of 21.27% and a net margin of 27.27%. As a group, research analysts expect that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current year.

Itau Unibanco Announces Dividend

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 paid a $0.068 dividend. The ex-dividend date is Monday, June 22nd. Itau Unibanco's dividend payout ratio (DPR) is presently 4.11%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ITUB shares. JPMorgan Chase & Co. raised their price target on Itau Unibanco from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday. Weiss Ratings reissued a "buy (b)" rating on shares of Itau Unibanco in a research note on Wednesday, June 17th. Finally, Zacks Research cut shares of Itau Unibanco from a "strong-buy" rating to a "hold" rating in a report on Friday, March 13th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Itau Unibanco currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.00.

Itau Unibanco Profile

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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