Aviva PLC Trims Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Aviva PLC trimmed its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB – Get Rating) by 20.8% in the 4th quarter, HoldingsChannel reports. The firm owned 16,370 shares of the bank’s stock after selling 4,300 shares during the period. Aviva PLC’s holdings in Itaú Unibanco were worth $19,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Huntington National Bank increased its stake in shares of Itaú Unibanco by 33.4% in the 3rd quarter. Huntington National Bank now owns 8,353 shares of the bank’s stock worth $43,000 after purchasing an additional 2,093 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Itaú Unibanco by 3.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 74,417 shares of the bank’s stock worth $385,000 after buying an additional 2,347 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in Itaú Unibanco by 21.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 16,366 shares of the bank’s stock worth $77,000 after buying an additional 2,864 shares in the last quarter. Eaton Vance Management increased its stake in Itaú Unibanco by 35.9% in the 1st quarter. Eaton Vance Management now owns 11,245 shares of the bank’s stock worth $64,000 after buying an additional 2,971 shares in the last quarter. Finally, Alterna Wealth Management Inc. increased its stake in Itaú Unibanco by 7.9% in the 3rd quarter. Alterna Wealth Management Inc. now owns 42,244 shares of the bank’s stock worth $218,000 after buying an additional 3,088 shares in the last quarter. 2.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lowered Itaú Unibanco from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 19th.

Itaú Unibanco Stock Up 1.9 %

ITUB opened at $5.40 on Friday. The firm has a 50-day simple moving average of $5.01 and a two-hundred day simple moving average of $4.91. Itaú Unibanco Holding S.A. has a 52 week low of $3.90 and a 52 week high of $6.07. The company has a market capitalization of $52.92 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.61 and a beta of 0.66. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.40.

Itaú Unibanco Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 13th. Shareholders of record on Friday, June 2nd will be issued a dividend of $0.003 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, June 1st. Itaú Unibanco’s dividend payout ratio (DPR) is presently 6.78%.

Itaú Unibanco Company Profile

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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.