Arrowstreet Capital Limited Partnership raised its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB – Free Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,525,566 shares of the bank’s stock after acquiring an additional 2,394,121 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Itau Unibanco were worth $454,843,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of ITUB. Kestra Advisory Services LLC bought a new stake in shares of Itau Unibanco in the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC increased its holdings in shares of Itau Unibanco by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after purchasing an additional 5,355 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Itau Unibanco by 40.1% in the fourth quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank’s stock worth $48,000 after purchasing an additional 1,901 shares during the last quarter. Community Bank N.A. bought a new stake in shares of Itau Unibanco in the third quarter worth about $57,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Itau Unibanco by 486.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock worth $66,000 after purchasing an additional 7,436 shares during the last quarter.
Itau Unibanco Trading Up 0.9%
ITUB opened at $7.99 on Friday. The stock has a market cap of $88.44 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 0.86 and a beta of 0.59. The stock’s 50 day moving average price is $8.33 and its 200-day moving average price is $8.12. Itau Unibanco Holding S.A. has a one year low of $5.93 and a one year high of $9.60. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.79 and a current ratio of 1.79.
Itau Unibanco Dividend Announcement
The firm 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 dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s dividend payout ratio is currently 4.11%.
Analyst Ratings Changes
Several brokerages have recently issued reports 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. lifted their target price on Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.
Get Our Latest Stock Analysis on ITUB
Insider Buying and Selling
In other news, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $8.82, for a total transaction of $1,612,296.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Fajerman Sergio Guillinet sold 50,000 shares of the company’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 in the company, valued at approximately $11,866,816.22. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 292,277 shares of company stock worth $2,646,512. Insiders own 0.61% of the company’s stock.
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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