Perpetual Ltd Has $94.97 Million Stock Holdings in Itau Unibanco Holding S.A. $ITUB

Key Points

• Perpetual Ltd reduced its holdings in Itau Unibanco by 6.9%, owning approximately 13.99 million shares, which constitutes 1.1% of its portfolio.
• A number of hedge funds have actively altered their positions in Itau Unibanco, with Millennium Management significantly increasing their stake by 386.7%.
• Itau Unibanco has announced a monthly dividend yield of 7.5%, a rise from previously having no dividends, reflecting positive returns for shareholders.

Perpetual Ltd cut its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 6.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,987,162 shares of the bank's stock after selling 1,043,875 shares during the quarter. Itau Unibanco comprises approximately 1.1% of Perpetual Ltd's portfolio, making the stock its 23rd largest holding. Perpetual Ltd owned about 0.13% of Itau Unibanco worth $94,973,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ITUB. Fielder Capital Group LLC increased its position in Itau Unibanco by 10.0% during the first quarter. Fielder Capital Group LLC now owns 18,816 shares of the bank's stock worth $103,000 after acquiring an additional 1,710 shares during the period. Flputnam Investment Management Co. lifted its stake in shares of Itau Unibanco by 10.7% in the first quarter. Flputnam Investment Management Co. now owns 19,916 shares of the bank's stock worth $110,000 after acquiring an additional 1,930 shares during the period. Union Bancaire Privee UBP SA raised its position in Itau Unibanco by 10.0% in the 1st quarter. Union Bancaire Privee UBP SA now owns 22,000 shares of the bank's stock valued at $121,000 after buying an additional 2,000 shares during the last quarter. Hamilton Capital LLC boosted its stake in Itau Unibanco by 15.5% in the 1st quarter. Hamilton Capital LLC now owns 16,081 shares of the bank's stock worth $88,000 after purchasing an additional 2,163 shares during the period. Finally, Parallel Advisors LLC increased its stake in Itau Unibanco by 31.7% in the 2nd quarter. Parallel Advisors LLC now owns 10,195 shares of the bank's stock worth $69,000 after purchasing an additional 2,455 shares during the period.

Itau Unibanco Stock Up 1.5%

NYSE ITUB traded up $0.11 during mid-day trading on Friday, hitting $7.34. The company's stock had a trading volume of 37,966,224 shares, compared to its average volume of 26,954,778. The firm has a market capitalization of $79.13 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 1.09 and a beta of 0.86. Itau Unibanco Holding S.A. has a twelve month low of $4.42 and a twelve month high of $7.38. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39. The company's 50 day simple moving average is $6.76 and its 200 day simple moving average is $6.36.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%.The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $44.75 billion. Analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, September 8th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.0454 per share. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date was Wednesday, August 20th. This is a positive change from Itau Unibanco's previous monthly dividend of $0.00. Itau Unibanco's payout ratio is presently 4.23%.

Wall Street Analyst Weigh In

Separately, UBS Group restated a "neutral" rating on shares of Itau Unibanco in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $6.27.

Itau Unibanco Company 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.