GQG Partners LLC Takes Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

GQG Partners LLC acquired a new stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,969,800 shares of the bank’s stock, valued at approximately $11,837,000.

Other large investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group raised its stake in shares of Itaú Unibanco by 6.9% in the 1st quarter. Schroder Investment Management Group now owns 162,001,882 shares of the bank’s stock worth $803,530,000 after buying an additional 10,507,325 shares in the last quarter. Baillie Gifford & Co. grew its stake in Itaú Unibanco by 40.4% in the second quarter. Baillie Gifford & Co. now owns 50,921,312 shares of the bank’s stock valued at $306,036,000 after purchasing an additional 14,665,460 shares in the last quarter. Westwood Global Investments LLC grew its stake in Itaú Unibanco by 4.7% in the first quarter. Westwood Global Investments LLC now owns 47,474,946 shares of the bank’s stock valued at $235,476,000 after purchasing an additional 2,131,784 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Itaú Unibanco by 12.5% during the 2nd quarter. Franklin Resources Inc. now owns 32,082,877 shares of the bank’s stock worth $192,817,000 after acquiring an additional 3,563,321 shares in the last quarter. Finally, Bamco Inc. NY boosted its stake in shares of Itaú Unibanco by 36.0% during the 2nd quarter. Bamco Inc. NY now owns 19,066,690 shares of the bank’s stock worth $114,591,000 after acquiring an additional 5,044,415 shares in the last quarter. Institutional investors and hedge funds own 4.29% of the company’s stock.

Separately, Zacks Investment Research raised Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a report on Thursday, July 29th.

Shares of NYSE:ITUB traded down $0.05 during midday trading on Thursday, hitting $4.32. The company had a trading volume of 537,284 shares, compared to its average volume of 37,888,664. Itaú Unibanco Holding S.A. has a 12 month low of $3.96 and a 12 month high of $6.76. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.83. The stock has a market cap of $42.34 billion, a price-to-earnings ratio of 8.25 and a beta of 0.83. The firm has a fifty day simple moving average of $5.39 and a 200 day simple moving average of $5.50.

Itaú Unibanco (NYSE:ITUB) last issued its quarterly earnings data on Monday, August 2nd. The bank reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Itaú Unibanco had a return on equity of 17.09% and a net margin of 17.21%. The business had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.19 billion. Equities analysts forecast that Itaú Unibanco Holding S.A. will post 0.51 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Monday, December 13th. Shareholders of record on Tuesday, November 2nd will be paid a $0.003 dividend. This is an increase from Itaú Unibanco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Monday, November 1st. This represents a $0.04 annualized dividend and a dividend yield of 0.83%. Itaú Unibanco’s dividend payout ratio (DPR) is currently 7.50%.

Itaú Unibanco Profile

Itaú Unibanco Holding SA provides financial products and services to individual and corporate clients in Brazil and abroad. It operates through the following segments: Retail Banking, Wholesale Banking, and Activities with the Market and Corporation. The Retail Banking segment includes credit cards, asset management, insurance, pension plan and capitalization products, and a variety of credit products and services for individuals and small companies.

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Institutional Ownership by Quarter for Itaú Unibanco (NYSE:ITUB)

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