Itau Unibanco Holding S.A. $ITUB Stake Reduced by Robeco Institutional Asset Management B.V.

by · The Markets Daily

Robeco Institutional Asset Management B.V. lessened its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB – Free Report) by 9.6% in the third quarter, HoldingsChannel.com reports. The firm owned 41,249,992 shares of the bank’s stock after selling 4,385,231 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Itau Unibanco were worth $351,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ITUB. Bank of America Corp DE raised its holdings in Itau Unibanco by 111.9% during the 2nd quarter. Bank of America Corp DE now owns 22,293,618 shares of the bank’s stock worth $182,139,000 after purchasing an additional 11,771,394 shares during the last quarter. Carmignac Gestion lifted its position in shares of Itau Unibanco by 41.6% in the 2nd quarter. Carmignac Gestion now owns 12,219,314 shares of the bank’s stock worth $99,832,000 after purchasing an additional 3,589,092 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Itau Unibanco by 32.4% in the 1st quarter. Hsbc Holdings PLC now owns 6,579,735 shares of the bank’s stock valued at $55,088,000 after purchasing an additional 1,611,094 shares during the last quarter. Amundi boosted its stake in shares of Itau Unibanco by 32.1% in the 2nd quarter. Amundi now owns 5,286,501 shares of the bank’s stock valued at $43,191,000 after purchasing an additional 1,283,503 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Itau Unibanco by 1.1% in the 1st quarter. Lazard Asset Management LLC now owns 5,202,138 shares of the bank’s stock valued at $43,594,000 after purchasing an additional 58,133 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $10.50 target price (up from $9.30) on shares of Itau Unibanco in a research note on Friday, October 9th. HSBC lowered shares of Itau Unibanco from a “buy” rating to a “hold” rating and set a $9.10 target price on the stock. in a report on Thursday, October 8th. Weiss Ratings raised shares of Itau Unibanco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded Itau Unibanco to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. increased their price target on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.87.

View Our Latest Stock Analysis on Itau Unibanco

Insider Activity at Itau Unibanco

In other news, insider Vanzo Orestes sold 74,643 shares of Itau Unibanco stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $8.38, for a total value of $625,508.34. Following the completion of the sale, the insider owned 933,371 shares in the company, valued at $7,821,648.98. The trade was a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by company insiders.

Itau Unibanco Trading Up 3.0%

Shares of ITUB stock opened at $9.72 on Wednesday. The company has a market cap of $107.62 billion, a P/E ratio of 12.34, a PEG ratio of 1.17 and a beta of 0.50. The stock has a 50 day simple moving average of $8.39 and a two-hundred day simple moving average of $8.31. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.08 and a current ratio of 1.08. Itau Unibanco Holding S.A. has a fifty-two week low of $6.80 and a fifty-two week high of $10.20.

Itau Unibanco (NYSE:ITUB – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $9.27 billion during the quarter, compared to analyst estimates of $9.29 billion. Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%. Research analysts forecast that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

Itau Unibanco Profile

(Free Report)

Itaú Unibanco Holding SA is a financial services company headquartered in São Paulo, Brazil, and one of the largest banking groups in Latin America. The company provides banking and financial products to individuals, small and midsize businesses, large corporations and institutional clients through digital channels and a network of branches and service locations.

Its offerings include checking and savings accounts, consumer and commercial lending, mortgages, credit cards, insurance, investment products, asset management, foreign exchange and payment services.

See Also

Want to see what other hedge funds are holding ITUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itau Unibanco Holding S.A. (NYSE:ITUB – Free Report).