LGT Fund Management Co Ltd. Purchases New Holdings in Itau Unibanco Holding S.A. $ITUB

LGT Fund Management Co Ltd. acquired a new position in Itau Unibanco Holding S.A. (NYSE:ITUB) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 167,417 shares of the bank’s stock, valued at approximately $1,403,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in shares of Itau Unibanco by 11.1% during the fourth quarter. Huntington National Bank now owns 10,895 shares of the bank’s stock valued at $78,000 after buying an additional 1,092 shares during the period. Gould Asset Management LLC CA raised its holdings in shares of Itau Unibanco by 3.0% in the fourth quarter. Gould Asset Management LLC CA now owns 40,777 shares of the bank’s stock worth $292,000 after buying an additional 1,187 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Itau Unibanco by 19.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 8,135 shares of the bank’s stock worth $58,000 after acquiring an additional 1,341 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in shares of Itau Unibanco by 3.0% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 46,666 shares of the bank’s stock worth $334,000 after acquiring an additional 1,357 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in Itau Unibanco by 3.7% during the 1st quarter. Stephens Inc. AR now owns 40,445 shares of the bank’s stock valued at $339,000 after acquiring an additional 1,433 shares during the period.

Itau Unibanco Stock Up 0.2%

Shares of NYSE:ITUB opened at $8.63 on Monday. The business’s 50 day moving average is $8.00 and its 200 day moving average is $8.24. The stock has a market cap of $95.64 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 0.93 and a beta of 0.58. Itau Unibanco Holding S.A. has a 52-week low of $5.93 and a 52-week high of $9.60. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.53.

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

Itau Unibanco Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, June 22nd will be issued a $0.068 dividend. The ex-dividend date is Monday, June 22nd. Itau Unibanco’s payout ratio is presently 4.11%.

Analyst Ratings Changes

Several equities analysts have commented on ITUB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a research report on Wednesday, June 17th. JPMorgan Chase & Co. boosted their target price on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Insider Activity

In other news, insider Fajerman Sergio Guillinet sold 39,477 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $9.53, for a total value of $376,215.81. Following the completion of the sale, the insider owned 1,205,642 shares of the company’s stock, valued at approximately $11,489,768.26. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vanzo Carlos Orestes sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the completion of the transaction, the insider directly owned 1,008,014 shares of the company’s stock, valued at $8,306,035.36. This trade represents a 5.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 169,477 shares of company stock valued at $1,528,616 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

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.