Mackenzie Financial Corp Sells 45,220 Shares of Itau Unibanco Holding S.A. (NYSE:ITUB)

Key Points

• Mackenzie Financial Corp reduced its stake in Itau Unibanco Holding S.A. by 20.1%, owning 179,521 shares after selling 45,220 shares in the 1st quarter, valued at approximately $987,000.
• UBS Group has reaffirmed a "neutral" rating on the shares of Itau Unibanco, indicating a cautious outlook on the stock's performance.
• The company recently announced a dividend of $0.0024 per share with a yield of 43.0%, to be paid on August 8th to investors recorded on July 3rd.

Mackenzie Financial Corp trimmed its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 20.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,521 shares of the bank's stock after selling 45,220 shares during the period. Mackenzie Financial Corp's holdings in Itau Unibanco were worth $987,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ITUB. Bessemer Group Inc. purchased a new position in shares of Itau Unibanco during the fourth quarter worth approximately $35,000. Parallel Advisors LLC grew its holdings in Itau Unibanco by 707.1% in the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock worth $43,000 after acquiring an additional 6,781 shares during the last quarter. Alta Capital Management LLC bought a new position in shares of Itau Unibanco during the first quarter valued at about $62,000. Tuttle Capital Management LLC purchased a new stake in shares of Itau Unibanco during the first quarter worth about $67,000. Finally, Waverly Advisors LLC purchased a new position in Itau Unibanco during the 4th quarter valued at about $67,000.

Analysts Set New Price Targets

Separately, UBS Group reiterated a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th.

Itau Unibanco Stock Up 0.3%

NYSE:ITUB traded up $0.02 on Friday, reaching $6.85. 28,035,667 shares of the stock traded hands, compared to its average volume of 28,584,125. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.43. The company has a market capitalization of $73.85 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.03 and a beta of 0.74. Itau Unibanco Holding S.A. has a 12 month low of $4.42 and a 12 month high of $6.95. The company's fifty day simple moving average is $6.55 and its 200 day simple moving average is $5.97.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, hitting analysts' consensus estimates of $0.18. The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $44.75 billion. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.50%. Equities analysts predict that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.0024 per share. This represents a dividend yield of 43.0%. The ex-dividend date of this dividend is Wednesday, July 2nd. Itau Unibanco's dividend payout ratio (DPR) is presently 4.23%.

Itau Unibanco Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.