UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Holdings in Itau Unibanco Holding S.A. $ITUB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Itau Unibanco Holding S.A. (NYSE:ITUB) by 552.4% in the second quarter, Holdings Channel.com reports. The fund owned 150,483 shares of the bank’s stock after acquiring an additional 127,417 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Itau Unibanco were worth $1,229,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. GQG Partners LLC increased its holdings in Itau Unibanco by 6.3% during the 4th quarter. GQG Partners LLC now owns 96,959,405 shares of the bank’s stock worth $694,229,000 after acquiring an additional 5,737,696 shares during the period. Orbis Allan Gray Ltd boosted its holdings in Itau Unibanco by 104.3% in the 2nd quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock valued at $574,053,000 after purchasing an additional 43,153,787 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Itau Unibanco by 3.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 63,525,566 shares of the bank’s stock valued at $454,843,000 after purchasing an additional 2,394,121 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Itau Unibanco by 5.2% during the 4th quarter. JPMorgan Chase & Co. now owns 43,540,350 shares of the bank’s stock valued at $311,749,000 after purchasing an additional 2,153,260 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Itau Unibanco by 3.7% in the fourth quarter. Wellington Management Group LLP now owns 42,818,183 shares of the bank’s stock worth $306,578,000 after purchasing an additional 1,520,759 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings cut Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Itau Unibanco presently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Itau Unibanco Trading Up 0.3%

Shares of ITUB opened at $8.32 on Friday. Itau Unibanco Holding S.A. has a 1-year low of $6.54 and a 1-year high of $9.60. The company has a market capitalization of $92.20 billion, a P/E ratio of 10.89, a P/E/G ratio of 1.04 and a beta of 0.56. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s 50 day simple moving average is $8.02 and its 200 day simple moving average is $8.20.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The company had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. Sell-side analysts forecast that Itau Unibanco Holding S.A. will post 0.87 earnings per share for the current fiscal year.

Insider Transactions at Itau Unibanco

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

Itau Unibanco Company Profile

Itaú Unibanco Holding SA is one of Brazil’s largest financial institutions and provides banking and financial services to individuals, companies and institutional clients. Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, insurance, payment solutions, foreign exchange and investment products.

The company also operates businesses in investment banking, corporate and treasury services, asset management, private banking and wealth management.