First Eagle Investment Management LLC Purchases 302,668 Shares of Itau Unibanco Holding S.A. $ITUB

First Eagle Investment Management LLC grew its position in Itau Unibanco Holding S.A. (NYSE:ITUB) by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,793,981 shares of the bank’s stock after acquiring an additional 302,668 shares during the quarter. First Eagle Investment Management LLC’s holdings in Itau Unibanco were worth $20,005,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ITUB. New York State Common Retirement Fund lifted its position in shares of Itau Unibanco by 18.6% during the 3rd quarter. New York State Common Retirement Fund now owns 6,868,048 shares of the bank’s stock worth $50,411,000 after buying an additional 1,079,178 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Itau Unibanco by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,387,090 shares of the bank’s stock worth $303,781,000 after buying an additional 369,474 shares during the period. Todd Asset Management LLC lifted its position in shares of Itau Unibanco by 5.3% during the 3rd quarter. Todd Asset Management LLC now owns 6,162,981 shares of the bank’s stock worth $45,236,000 after buying an additional 311,472 shares during the period. Seafarer Capital Partners LLC lifted its position in shares of Itau Unibanco by 3.0% during the 4th quarter. Seafarer Capital Partners LLC now owns 10,909,142 shares of the bank’s stock worth $78,109,000 after buying an additional 317,742 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Itau Unibanco by 8.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 3,725,339 shares of the bank’s stock worth $27,344,000 after buying an additional 286,200 shares during the period.

Analysts Set New Price Targets

ITUB has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Zacks Research downgraded Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Insider Buying and Selling at Itau Unibanco

In other Itau Unibanco news, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of Itau Unibanco stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $8.82, for a total value of $1,612,296.00. Following the completion of the transaction, the insider owned 1,637,511 shares in the company, valued at approximately $14,442,847.02. The trade was a 10.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Fajerman Sergio Guillinet sold 50,000 shares of Itau Unibanco stock in a transaction 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 completion of the sale, the insider directly owned 1,265,119 shares of the company’s stock, valued at $11,866,816.22. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 292,277 shares of company stock valued at $2,646,512. Corporate insiders own 0.61% of the company’s stock.

Itau Unibanco Trading Down 2.3%

Shares of ITUB opened at $8.18 on Tuesday. The stock has a fifty day moving average price of $8.54 and a two-hundred day moving average price of $8.03. The company has a debt-to-equity ratio of 2.61, a quick ratio of 8.79 and a current ratio of 8.79. Itau Unibanco Holding S.A. has a 52-week low of $5.93 and a 52-week high of $9.60. The company has a market cap of $90.55 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 0.89 and a beta of 0.63.

Itau Unibanco (NYSE:ITUB) last issued its quarterly earnings data on Tuesday, May 5th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). Itau Unibanco had a net margin of 27.27% and a return on equity of 29.45%. The business had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $9.41 billion. Analysts predict that Itau Unibanco Holding S.A. will post 0.9 EPS for the current fiscal year.

Itau Unibanco Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, March 23rd will be given a $0.068 dividend. The ex-dividend date is Monday, March 23rd. Itau Unibanco’s payout ratio is presently 4.11%.

Itau Unibanco Company 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.