Pzena Investment Management LLC Has $1.61 Million Stake in Itau Unibanco Holding S.A. $ITUB

Pzena Investment Management LLC lowered its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 44.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 225,157 shares of the bank’s stock after selling 183,738 shares during the period. Pzena Investment Management LLC’s holdings in Itau Unibanco were worth $1,612,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ITUB. Royal Bank of Canada boosted its stake in Itau Unibanco by 11.7% during the 1st quarter. Royal Bank of Canada now owns 445,578 shares of the bank’s stock valued at $2,450,000 after purchasing an additional 46,608 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Itau Unibanco by 28.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,996,699 shares of the bank’s stock valued at $27,482,000 after purchasing an additional 1,107,607 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Itau Unibanco by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after buying an additional 5,355 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of Itau Unibanco by 11.7% during the 2nd quarter. Guggenheim Capital LLC now owns 118,405 shares of the bank’s stock worth $804,000 after buying an additional 12,442 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Itau Unibanco by 425.3% during the 2nd quarter. First Trust Advisors LP now owns 356,467 shares of the bank’s stock worth $2,420,000 after buying an additional 288,602 shares in the last quarter.

Itau Unibanco Price Performance

Itau Unibanco stock opened at $7.82 on Friday. Itau Unibanco Holding S.A. has a 52 week low of $5.93 and a 52 week high of $9.60. The company’s 50 day moving average price is $8.43 and its two-hundred day moving average price is $8.08. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.53. The stock has a market cap of $86.56 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.87 and a beta of 0.63.

Itau Unibanco (NYSE:ITUB) last posted its earnings results on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). Itau Unibanco had a return on equity of 26.50% and a net margin of 27.27%.The firm had revenue of $9.01 billion for the quarter, compared to the consensus estimate of $9.41 billion. On average, equities analysts predict that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

Itau Unibanco Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, March 23rd will be issued a $0.068 dividend. The ex-dividend date of this dividend is Monday, March 23rd. Itau Unibanco’s payout ratio is 4.11%.

Wall Street Analysts Forecast Growth

ITUB has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of 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 cut shares of 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 assigned a Hold rating to the company’s stock. According to MarketBeat, Itau Unibanco presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Insider Buying and Selling

In related news, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of Itau Unibanco stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $8.82, for a total value of $1,612,296.00. Following the sale, the insider owned 1,637,511 shares of the company’s stock, valued at approximately $14,442,847.02. The trade was a 10.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Fajerman Sergio Guillinet sold 39,477 shares of Itau Unibanco stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $9.53, for a total transaction of $376,215.81. Following the completion of the sale, the insider directly owned 1,205,642 shares in the company, valued at $11,489,768.26. This trade represents a 3.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 292,277 shares of company stock worth $2,646,512 in the last ninety days. 0.61% of the stock is currently owned by insiders.

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.