Nippon Life Global Investors Americas Inc. reduced its stake in Itau Unibanco Holding SA (NYSE:ITUB) by 77.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,918 shares of the bank’s stock after selling 246,950 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Itau Unibanco were worth $909,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harding Loevner LP grew its holdings in shares of Itau Unibanco by 225.1% during the third quarter. Harding Loevner LP now owns 193,057,699 shares of the bank’s stock worth $774,895,000 after buying an additional 133,670,409 shares during the last quarter. BlackRock Inc. boosted its holdings in Itau Unibanco by 2.9% in the 4th quarter. BlackRock Inc. now owns 43,741,482 shares of the bank’s stock valued at $568,639,000 after purchasing an additional 1,239,288 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Itau Unibanco by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,923,292 shares of the bank’s stock valued at $444,464,000 after purchasing an additional 627,005 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Itau Unibanco by 33.8% in the 4th quarter. Fisher Asset Management LLC now owns 25,914,919 shares of the bank’s stock valued at $336,894,000 after purchasing an additional 6,553,611 shares in the last quarter. Finally, Mondrian Investment Partners LTD boosted its holdings in Itau Unibanco by 30.1% in the 4th quarter. Mondrian Investment Partners LTD now owns 22,372,140 shares of the bank’s stock valued at $290,838,000 after purchasing an additional 5,177,751 shares in the last quarter. Institutional investors and hedge funds own 4.99% of the company’s stock.
Shares of Itau Unibanco Holding SA (ITUB) traded down $0.25 during trading on Wednesday, hitting $15.79. 8,754,954 shares of the stock were exchanged, compared to its average volume of 9,730,000. The firm has a market cap of $96,410.00, a price-to-earnings ratio of 14.10, a PEG ratio of 1.15 and a beta of 1.72. Itau Unibanco Holding SA has a 1-year low of $10.02 and a 1-year high of $16.98. The company has a current ratio of 1.64, a quick ratio of 1.66 and a debt-to-equity ratio of 1.54.
Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Monday, February 5th. The bank reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). Itau Unibanco had a return on equity of 16.87% and a net margin of 21.51%. The business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $8.49 billion. equities analysts expect that Itau Unibanco Holding SA will post 1.19 EPS for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Friday, March 2nd will be issued a $0.0046 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Thursday, March 1st. Itau Unibanco’s dividend payout ratio (DPR) is presently 4.46%.
Itau Unibanco declared that its board has initiated a stock repurchase plan on Monday, December 18th that authorizes the company to repurchase 28,620,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have recently issued reports on ITUB. Scotiabank downgraded shares of Itau Unibanco from a “sector perform” rating to an “underperform” rating in a research report on Wednesday. ValuEngine downgraded Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 7th. Credit Suisse Group upgraded Itau Unibanco from a “neutral” rating to a “buy” rating in a report on Monday, March 5th. Zacks Investment Research downgraded Itau Unibanco from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Finally, Deutsche Bank raised shares of Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, December 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Itau Unibanco currently has an average rating of “Hold” and a consensus price target of $14.25.
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About Itau Unibanco
Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.
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