Carmignac Gestion Has $72.32 Million Stock Holdings in Itau Unibanco Holding S.A. $ITUB

Carmignac Gestion lifted its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB) by 20.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,630,222 shares of the bank’s stock after buying an additional 1,477,637 shares during the quarter. Itau Unibanco comprises 1.1% of Carmignac Gestion’s portfolio, making the stock its 24th biggest holding. Carmignac Gestion’s holdings in Itau Unibanco were worth $72,321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Itau Unibanco by 155.5% during the 1st quarter. Bank of America Corp DE now owns 10,522,224 shares of the bank’s stock worth $88,176,000 after acquiring an additional 6,404,438 shares during the last quarter. Arkadios Wealth Advisors bought a new position in shares of Itau Unibanco in the first quarter worth about $364,000. Amundi lifted its position in shares of Itau Unibanco by 18.6% during the first quarter. Amundi now owns 4,002,998 shares of the bank’s stock worth $33,545,000 after purchasing an additional 628,820 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Itau Unibanco by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 9,441 shares of the bank’s stock worth $79,000 after purchasing an additional 1,306 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Itau Unibanco by 26.5% during the first quarter. Quantinno Capital Management LP now owns 280,094 shares of the bank’s stock valued at $2,347,000 after purchasing an additional 58,662 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on ITUB. JPMorgan Chase & Co. raised their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Insiders Place Their Bets

In related news, insider Vanzo Carlos Orestes sold 60,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total value of $494,400.00. Following the transaction, the insider directly owned 1,008,014 shares in the company, valued at $8,306,035.36. This represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is owned by corporate insiders.

Itau Unibanco Stock Performance

Shares of NYSE:ITUB opened at $8.47 on Monday. The stock has a market capitalization of $93.87 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.91 and a beta of 0.58. Itau Unibanco Holding S.A. has a 1-year low of $6.00 and a 1-year high of $9.60. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 2.53. The business has a 50-day moving average price of $8.08 and a two-hundred day moving average price of $8.36.

Itau Unibanco (NYSE:ITUB) last released its earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The business had revenue of $9.01 billion for the quarter, compared to analyst estimates of $9.41 billion. Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%. Equities analysts predict that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current year.

Itau Unibanco Announces Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, June 22nd will be paid a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s payout ratio is 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.